Under the debt restructuring plan, Triple Crown would shave nearly a third of the $35 million owed to second-lien lenders. The Lawrenceville, Georgia-based media conglomerate filed for bankruptcy in the U.S. Bankruptcy Court in Wilmington, Del. (Case No. 09-13181).
The news comes the same day as The Atlanta Constitution, Georgia's largest daily newspaper, hiked its newstand price to $1 for Monday through Saturday editions to offset sagging advertising revenues and declining circulation.
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