Star Tribune files for Chapter 11 bankruptcy

Minneapolis Star Tribune | St. Paul Pioneer Press
The Minneapolis paper lists assets of $493.2 million and liabilities of $661.1 million. (Read the filing.) Publisher Chris Harte says the Strib intends to use the Chapter 11 process “to make this great Twin Cities institution stronger, leaner and more efficient so that it is well positioned to benefit when economic conditions begin to improve.” New York-based Avista Capital Partners bought the paper for $530 million nearly two years ago.
> “The Newspaper Guild was given no heads up at all” | Union release

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