Triple Crown, owner of Ga. papers, in bankruptcy

Triple Crown Media, owner of six daily newspapers and one weekly in Georgia, became the 11th newspaper company to file for bankruptcy in the past year, The Associated Press reports. Like others in bankruptcy, the Kentucky-based company is heavily in debt. It operates the Albany Herald, Gwinnett Daily Post, Newton Citizen, Rockdale Citizen, Clayton News Daily, Henry Daily Herald and Jackson Progress-Argus. (Read more)

"Each TCM newspaper has positive cash flow, but the company has been highly leveraged. This restructuring will lower debt and allow our newspapers to regain footing so they can continue to operate as they have in the past," said Michael Gebhart, executive vice president of the company and publisher of the Albany Herald. "Nothing in this restructuring plan will change how we publish this newspaper," Gebhart said in his paper. "The procedure was designed to be seamless. Our customers won't see any difference in The Herald or how The Herald conducts business." (Read more)