The paper just broke the story of its own flat bustedness. A couple of key details from the story:
The paper has operated profitably: $26 million in 2008, down from $115 million in 2006, when owners Avista Capital Partners bought the paper for $530 million. This does not account for debt payments.
Assets are valued at $493 million; liaibilites at $661 million.
More details to come.