Author Topic: McClatchy, publisher of dozens of U.S. newspapers, files for bankruptcy protection  (Read 212 times)

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Online PeteS in CA

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https://www.nbcnews.com/news/all/mcclatchy-publisher-dozens-u-s-newspapers-files-bankruptcy-protection-n1136256

McClatchy, publisher of dozens of U.S. newspapers, files for bankruptcy protection

Quote
The publisher of the Miami Herald, The Kansas City Star and dozens of newspapers across the country is filing for bankruptcy protection.

The publisher's 30 local newsrooms will continue to operate as usual as McClatchy Co. reorganizes under Chapter 11 bankruptcy protection.

The company's origins date to 1857 when it first began publishing a four-page paper in Sacramento, California, following the California Gold Rush. That paper became The Sacramento Bee.

McClatchy has received $50 million debtor-in-possession financing from Encina Business Credit. That, combined with normal operating cash flows, will provide enough cash for the company, still based in Sacramento, to continue to function.

In CA, McClatchy owns the Sacramento, Modesto, and Fresno Bee newspapers. The best I can say is that they are generally not as loony-liberal as the NYT or WashPost.
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Online Applewood

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Kevin McClatchy was once owner of the Pittsburgh Pirates.

Printed newspapers are going the way of the dinosaurs.  My local paper only publishes a print edition on weekends and maybe one or two days during the week. The paper is pushing people to online subscriptions instead.  In my neighborhood it's just about impossible to get reliable home delivery of the newspaper these days.  And a number of stores no longer carry the print editions.
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