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Posted: September 14, 2009 1:23 p.m.

Triple Crown Media files for Chapter 11 bankrupcy

DOVER, Del. (AP) - Newspaper publisher Triple Crown Media Inc., which owns daily and weekly newspapers in Georgia, has filed for bankruptcy protection.

In a prepackaged filing Monday in Delaware bankruptcy court, the Lexington, Ky.-based company listed assets of about $33 million, and liabilities of about $86 million.

Triple Crown operates six daily Georgia newspapers and one weekly with a total daily circulation of about 95,000.
The company, which has about 330 employees, announced early last year that it was cutting its work force by 5 percent because of the economic downturn and increased paper and fuel costs.

This filing makes Triple Crown at least the 11th newspaper publisher to seek bankruptcy protection over the past year.

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