Morning Brief

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T-U PARENT COMPANY FILES PREPACKAGED PLAN

The Times-Union's parent company, Morris Publishing Group, planned to file late Monday with the U.S. Bankruptcy Court in Augusta, Ga., a prepackaged plan to restructure its debt, the company said.

Holders of approximately 93 percent of existing bond notes agreed to support a reorganization plan that calls for exchanging $278.5 million in unsecured debt for $100 million in secured debt, according to a news release. Last fall, the company reduced its senior indebtedness to banks by $110 million.

Readers and advertisers should notice no change in operations and all obligations to vendors and employees will be met, the …