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OH NO: Philadelphia Newspapers File for Bankruptcy

Two U.S. newspapers have filed for bankruptcy, the latest blow for the country’s struggling newspaper . Newspapers, owner of The Inquirer and the , said it filed the motion to protect the company while it restructures $390 million in debt. Both newspapers say they will continue publishing during the restructuring.

Philadelphia Newspapers Chief Brian Tierney says the restructuring is based solely on the paper’s debt and not its operations. The move came a day after the Journal Company, publisher of 20 daily newspapers, also filed for bankruptcy.


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