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Business Executive

Newspaper Publisher McClatchy Files for Bankruptcy

Newspaper publisher McClatchy Co. has submitted for Chapter 11 bankruptcy security as it seeks to restructure more than $seven hundred million in personal debt.

The organization publishes 30 newspapers which include The Miami Herald, The Kansas Town Star, and The Sacramento Bee.

Pending court docket approval, sixty% of its personal debt would be eliminated and regulate of the organization would be presented to McClatchy’s biggest creditor, the hedge fund, Chatham Asset Management.

Chatham Asset Management also owns a bulk stake in the National Enquirer and Postmedia, the biggest Canadian newspaper chain.

“When regional media suffers in the experience of market

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