A Kentucky company that owns several Georgia newspapers has filed for bankruptcy.
Triple Crown Media publishes seven newspapers in Georgia, including the Albany Herald and the Jackson Progress-Argus.
According to the U.S. Bankruptcy Court in Delaware, the company has more than $30 million in assets but more than $80 million in debt.
In January the company laid off 5% of its workforce.
Under the restructuring agreement employees will keep their jobs and benefits and the newspapers will keep operating.
Contributors: From staff and wire reports