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Sun-Times Media Group, Inc. (Pink Sheets:SUTM) just released some important news.

Publication: M2 Presswire
Publication Date: 31-MAR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-31 March 2009-Stockwire.com: Sun-Times Media Group, Inc. (Pink Sheets:SUTM) just released some important news.(C)1994-2009 M2 COMMUNICATIONS LTD

RDATE:31032009

Sun-Times Media Group, Inc. (Pink Sheets:SUTM), just announced Sun-Times Media Group Files for Voluntary Chapter 11 Bankruptcy Protection.

A dedicated Chat Room for Sun-Times, has been created at STOCKWIRE.com to discuss this news event.

Visit the following link to begin chatting with your fellow shareholders: http://www.stockwire.com/chat

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CHICAGO -- Sun-Times Media Group, Inc. (Pink Sheets:SUTM) today announced that it and certain affiliates (the "Company") filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code. The filing was made earlier today in the U.S. Bankruptcy Court for the District of Delaware.

The Company and its principal operating subsidiary, the Sun-Times News Group, will continue to operate its newspapers and online sites as usual while it focuses on further improving its cost structure and stabilizing operations. The Company has retained Rothschild Inc. to commence a process for the sale of assets pursuant to Section 363 of the U.S. Bankruptcy Code. The Company believes it has sufficient financial resources to continue customary day-to-day operations during this process.

The Company operates 59 newspapers and their corresponding online sites. Those titles include: the Chicago Sun-Times, the SouthtownStar, Beacon News (Aurora), Courier-News (Elgin), Herald News (Joliet), Lake County News-Sun (Waukegan), Naperville Sun, Post-Tribune (Merrillville, Ind.), and weeklies published by Pioneer Press and Fox Valley Publications. The...

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