Source:
Associated PressNewspaper owner Morris Publishing Group filed for bankruptcy protection Tuesday as part of a plan worked out with creditors to cut its debt by about $288.5 million.
The privately held owner of 13 daily newspapers including The Augusta Chronicle and Savannah Morning News announced last week that it would file a "prepackaged" plan, approved by a majority of its creditors, in federal bankruptcy court.
... The Morris newspaper group started in the 1940s when William S. Morris Jr. purchased The Augusta Chronicle, where he began working as a bookkeeper in 1929. His son, William S. Morris III, is Morris Publishing's chairman and his grandson, William S. Morris IV, is the company's CEO.
The company has daily newspapers in eight states - Alaska, Arkansas, Florida, Georgia, Kansas, Minnesota, South Carolina and Texas - as well as more than 60 non-daily newspapers and magazines. The Florida Times-Union is the company's largest newspaper, followed by The Augusta Chronicle and the Savannah Morning News.
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