11 Connecticut weeklies face possible closures

The Hartford Courant is reporting that 11 weekly newspapers in Connecticut may be forced to close down if a buyer cannot be found before Jan. 12th.
The papers, owned by the Journal Register Company, cover the towns of Canton, Burlington and Harwinton.

Journal Register has been the subject of speculation all year as sagging revenues and its massive debt pushed its credit rating into junk status. The company's stock, which traded as high as $23.86 a share a decade ago, and as high as $2.82 in the last year, now goes for about a penny and was removed from the listings of the New York Stock Exchange in April.

Falling revenues have not helped matters. According to the article, ad revenue declined by 13 percent year-over-year in the third quarter.

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