Star Tribune Co. files reorganization plan with goal of emerging from bankruptcy in fall

Star Tribune Co. files bankruptcy reorganization

MINNEAPOLIS — The Star Tribune Co. says it has filed a reorganization plan in U.S. Bankruptcy court, with the goal of emerging from Chapter 11 protection this fall.

The newspaper says it filed the paperwork Thursday. Since the Star Tribune entered bankruptcy in January, it has reached agreements with six of 10 bargaining units, representing 94 percent of unionized employees.

The Star Tribune says the agreements reached cost savings the company needs: cutting labor costs by $20 million a year.

Publisher and chairman Chris Harte says in a statement he’s confident the newspaper will emerge in better shape and ready for the “intense competition that lies ahead in a rapidly evolving news and information industry.”

Star Tribune Co.: www.startribunecompany.com/company/