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Print Newspapers File Chapter 11

The Wall Street Journal is reporting that the publisher of two Philadelphia major newspapers, and the Journal Register Company, which publishes 20 dailies, including the New haven Register, filed for bankruptcy over the weekend.

The article also says that the debt ratings of MediaNews Group – the publisher of our local Alameda Journal – are “risky,” suggesting that MediaNews Group may not be far behind.

Publishers are proving especially vulnerable in a global economic downturn that has forced firms from telecommunications to the car-parts industry to tip into Chapter 11. Four newspaper owners have filed for bankruptcy protection since December, and there is a queue of others whose debt ratings are considered risky: MediaNews Group, publisher of the Denver Post and San Jose Mercury News; Orange County Register publisher Freedom Communications Inc.; and small-town newspaper publisher Morris Publishing Group.

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