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Star Tribune exits bankruptcy

September 29, 2009|Times Wire Reports

The Star Tribune of Minneapolis emerged from bankruptcy protection with its main lenders becoming the new owners and its debt slashed 80%.

The Star Tribune can now make decisions without a judge's supervision, as Minnesota's largest newspaper and the nation's 14th largest on weekdays tries to ride out an advertising drought and boost revenue in print and online.

The move was largely expected after a federal bankruptcy judge in New York approved the Star Tribune's reorganization plan Sept. 17.

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