Philadelphia Inquirer | Romenesko Memos
Philadelphia Media Holdings CEO Brian Tierney says: “This restructuring is focused solely on our [$390 million] debt, not our operations. Our operations are sound and profitable.” It’s not clear whether the current owners will retain a stake in the company if the debt is successfully restructured with the help of a bankruptcy judge, reports the Inquirer’s Harold Brubaker. || Read Tierney’s letter to employees, and the Guild’s letter to members.
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Philadelphia Inquirer and Daily News owner files for bankruptcy protection
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