Summit Media Files for Bankruptcy
Posted on Mar 18, 2011 7:50pm PDT
Summit Business Media has reportedly filed for bankruptcy protection. The company voluntarily filed Chapter 11 in order to restructure during the first half of 2011. The company reportedly has about $190 million in debt at this time and plans to convert it. Summit reportedly filed for
bankruptcy due to declining revenues and a shift towards online media as the company publishes magazines and newspapers.
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