Tue., September 15, 2009 1:24pm (EDT)

Owner of Several Georgia Newspapers Files for Bankruptcy
By Josephine Bennett
Updated: 5 years ago

ALBANY, Ga.  —  
Triple Crown Media publishes seven newspapers in the state, including the Albany Herald and the Jackson Progress-Argus.
Triple Crown Media publishes seven newspapers in the state, including the Albany Herald and the Jackson Progress-Argus.
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