Georgia Newspapers Publisher Files For Bankruptcy

RANDALL CHASE

DOVER, Del. (AP) — Triple Crown Media Inc., which owns daily and weekly newspapers in Georgia, on Monday became at least the 11th newspaper publisher to seek bankruptcy protection over the past year.

In a prepackaged Chapter 11 filing in U.S. Bankruptcy Court in Wilmington, the Lexington, Ky.-based company listed assets of about $33 million and liabilities of about $86 million.

Triple Crown, which operates six daily Georgia newspapers and one weekly with a total daily circulation of about 95,000, has about 330 employees. It 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.

The company's daily newspapers are the Gwinnett Daily Post, The Albany Herald, the Rockdale Citizen, the Newton Citizen, the Clayton News-Daily and the Henry Daily Herald. It also published the Jackson Progress-Argus weekly.

In an affidavit, Triple Crown Chief Financial Officer Mark Meikle said the company's immediate goal is "to engage in business as usual following the commencement of these Chapter 11 cases."