Reading Eagle files for bankruptcy

READING >> A struggling daily newspaper in Berks County announced Wednesday it is filing for bankruptcy protection.

The owners of the Reading Eagle are seeking to sell the newspaper as the company moves through the bankruptcy process.

The family-owned Reading Eagle Co., which also operates news-talk radio station WEEU, a weekly newspaper in Schuylkill County, a promotions firm called Pretzel City Productions, and a commercial printing operation, said it will continue to publish and broadcast while in Chapter 11 bankruptcy.

A statement issued by the company after 5 p.m. Wednesday did not discuss the fate of its 236 full-time and 20 part-time employees.

Founded 150 years ago, the Reading Eagle has a large presence along Penn Street in downtown Reading. The radio station is located behind the newspaper building.

The newspaper has had several rounds of layoffs in recent years

President and Chief Executive Officer Peter Barbey said the company has retained a media broker and has had discussions over the past few months with potential buyers.

Like many other publications, the Reading Eagle has struggled to maintain its print readership. Average daily circulation is listed at 37,000 and the Sunday Reading Eagle lists 50,000 subscribers — both numbers down significantly over the past two decades.