Newspaper parent company, Morris, suffers huge loss - KCBD NewsChannel 11 Lubbock

4/1/09

Newspaper parent company, Morris, suffers huge loss

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LUBBOCK, TX (KCBD) - More bad news for the parent company of Lubbock's daily newspaper.  Morris Communications owns the Lubbock Avalanche Journal.  Wednesday, that company announced a net loss of more than $140 million for 2008.  It compares to a profit of $67 million.

The company says in Lubbock, advertising revenue is down by $4 million, which is more than 14 percent.  Morris Communications blames a bad national economy for lost advertising.   Recently the company hired experts to consider a possible bankruptcy filing.

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