Sun-Times Files Chapter 11

Another day, another newspaper company goes bottom up. This morning, the publisher of the Chicago Sun-Times, the Sun-Times Media Group, filed for chapter 11 bankruptcy protection. Aside from the Chicago paper, the company owns 59 newspapers and websites in the Windy City's metropolitan area. But it's not the end of the paper, per say. "We firmly believe that filing for Chapter 11 protection and exploring the potential sale of assets or new investment in the Company offers us the best opportunity to protect our respected media properties for the long-term," the company's chairman said.