Sun-Times Media Group Inc., which also owns dozens of suburban newspapers, filed for Chapter 11 protection in a Delaware court — the fifth newspaper publisher to seek protection from creditors in recent months. The company listed $479 million in assets and $801 million in debt. The largest unsecured creditors are newsprint vendors; three are owed more than $1 million each.

“Please be assured that this action does NOT mean the Company or our newspapers or online sites are going out of business,” chairman and chief executive Jeremy Halbreich told readers in a statement posted on its newspapers’ Web sites.

via Sun-Times Media files for bankruptcy | Crain’s Chicago Business.

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