The Santa Barbara News-Press has declared bankruptcy and ceased the publication of the newspaper after more than 150 years in circulation.
The Pulitzer Prize-winning newspaper published its last online edition a month after the organization ceased publication of its print newspaper. Friday’s online-only edition of the paper will be the News-Press’ final issue.
Ampersand Publishing LLC, the entity in which News-Press conducts business, filed for bankruptcy last week. The Chapter 7 bankruptcy filing was authorized by the company in May, nearly three months prior to Friday’s bankruptcy filings.
Just three months ago, the News-Press departed from the landmark building where it had been conducting operations for the last 101 years.
In an email to staff sent by managing editor Dave Mason, the bankruptcy filing was detailed and employees were told that all roles were to be eliminated. “They ran out of money to pay us,” said the email.
According to the Chapter 7 filing, a meeting of the company’s creditors is scheduled for Sept. 1. However, “no property appears to be available to pay creditors,” reads the filing.
The Santa Barbara News-Press was founded in 1868 and is the city’s oldest newspaper. In 2000 the newspaper was purchased by billionaire Wendy McCaw from The New York Times Co.
