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Pantagraph's parent company filing bankruptcy - more than $1.3 billion in debt!
Add to that, their local radio station, WJBC-1230 - the flagship station for ISU Redbird basketball also just filed for bankruptcy ($211 million in debt)
BTW -- the Pantagraph's parent company, Lee Enterprises, also publishes the St. Louis Post Dispatch.
One other major media mogul, Gatehouse Media - also just announced "changes to it organizational structure"... in hopes of avoiding the same fate
One local effect may be this...
that the PJ Star and Springfield newspapers are "outsourcing" more and more jobs...
"GateHouse stock, which sold for more than $20 a share during the initial public offering five years ago, is virtually worthless,
selling for as little as four cents a share last week. The company has more than $1 billion in debt due in 2014."
Add to that, their local radio station, WJBC-1230 - the flagship station for ISU Redbird basketball also just filed for bankruptcy ($211 million in debt)
BTW -- the Pantagraph's parent company, Lee Enterprises, also publishes the St. Louis Post Dispatch.
One other major media mogul, Gatehouse Media - also just announced "changes to it organizational structure"... in hopes of avoiding the same fate
One local effect may be this...
that the PJ Star and Springfield newspapers are "outsourcing" more and more jobs...
"GateHouse stock, which sold for more than $20 a share during the initial public offering five years ago, is virtually worthless,
selling for as little as four cents a share last week. The company has more than $1 billion in debt due in 2014."
