Lakeway Publishers: No plans to close papers in bankruptcy
MORRISTOWN, Tenn. (AP) — Lakeway Publishers says it does not plan to close any newspapers as part of a Chapter 11 bankruptcy and restructuring.
The company owns community newspapers and websites in Tennessee, Missouri and Virginia. They include the Citizen Tribune in Morristown, Tennessee.
Lakeway filed for bankruptcy in federal court in East Tennessee on May 31.
In a statement, Lakeway President Jack Fishman said it’s a challenge for small companies to adapt to changing market trends. But he said that even in this time of transition, the work of Lakeway journalists is read by more people than ever before.
The company’s statement said community newspapers are of critical importance because of the “unique role they play in their communities.”