Earlier this week I took a close look at Creative Loafing’s bankruptcy filings to try and figure out how much that company – and by extension – the Chicago Reader is worth. Here I’ll try to peer into the much more complex bankruptcy filings of the Sun Times’ parent company, the Sun Times Media Group, to try and figure out the worth of the Sun Times as it struggles through bankruptcy and tries to find a buyer.
2007 – ($46,745,434)
2008 – ($17,073,676)
2009Q1 – ($5,852,346)
2006 – $420,379
2007 – $372,258
2008 – $323,850
…the use of alternative means of delivery, such as free Internet sites, for news, advertising and
other content has increased significantly in the past few years and has resulted in what may likely be permanent
decline in advertising revenue for printed newspaper products. Should significant numbers of customers choose to
receive content using these alternative delivery sources rather than the Company’s newspapers, the Company may
suffer continued decreases in advertising revenue and may be forced to decrease the prices charged for the
Company’s newspapers, make other changes in the way the Company operates or face a long-term decline in
circulation, any or all of which are likely to harm the Company’s results of operations and financial condition.