Strib To Leave Bankruptcy By Fall

The Minneapolis Star Tribune has announced its plan to exit Chapter 11 bankruptcy by autumn, with $100 million in debt and a value between $118-$144 million.

The paper said it has its creditors’ approval.

Current owners, Avista Capital Partners and the Chris Harte Family Trust will leave with nothing; publisher Chris Harte said he will leave the paper.

So much for that deathwatch, right?

Though the cuts that had to be wrested from the employees’ hands could not have been painless, it’s good to see the paper will go on.