McClatchy files for bankruptcy protection

McClatchy files for bankruptcy protection

America’s second-largest newspaper chain McClatchy has filed for Chapter 11 bankruptcy protection Thursday amid mounting debt obligations and a dramatic loss of print revenue. The company, which owns the Miami Herald, the Kansas City Star, the Sacramento Bee, the Charlotte Observer and 25 other newspapers in 14 states, has already suspended some pension payments to former executives.

Timothy
Timothy
IvoryDove
IvoryDove 3 months

We take information you can find on your phone, print it onto paper and distribute it within a few days... Long after you have seen it... And we expect advertisers to give us money for this "delayed information service". What's wrong with this picture?

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