St. Louis Post-Dispatch Owner to Exit Bankruptcy January 30

-- Rather than get rid of debt, Lee Enterprises, Inc., which owns the St. Louis Post-Dispatch and 47 other daily newspapers, will wind up paying significantly higher interest on it -- 9.2%, up from 5.1%

From Judge confirms Lee Enterprises' bankruptcy plan, published by the Post-Dispatch on January 23, 2012:

"When it filed its pre-packaged bankruptcy, Lee said it had secured agreements with 97 percent of its creditors to refinance its debt. But unanimous approval was necessary for the refinancing, prompting Lee to file its voluntary bankruptcy petition. Lee predicted it would exit bankruptcy in 60 days or less.

Unlike most companies in bankruptcy, Lee will shed no debt. Rather, it will pay higher interest on all of the money it owes, with rates jumping from 9.2 percent from 5.1 percent."

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