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A couple of weeks ago, Newsosaur predicted either MediaNews or Morris Publishing would be the next ones to declare bankruptcy. Well, a few days ago, another newspaper company did annunce Chapter 11, but it was Philadelphia Newspapers, owner of the Philadelphia Enquirer and the Philadelphia Daily News. According to the New York Times, the company had not been complying with its debt agreements for about eight months, and suspended payment on debt in the Fall.

The announcement, coupled with the Fed’s chief dire prediction about the economy, doesn’t bode well for the future of debt-laden newspapers.

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