Publishing

McClatchy Bankruptcy Filing: a Last-Ditch Effort to Save a Newspaper Company

The move gives control to a hedge fund

Pile of newspapers
McClatchy has significant investments in local markets, with 30 media companies in 14 states. Getty Images

By Sara Jerde

February 13, 2020

McClatchy filed for Chapter 11 bankruptcy today in a move executives say won’t result in layoffs but will put majority ownership of yet another media company—this time a 163-year-old, family-owned publisher—in the hands of a hedge fund.

Sara Jerde
@SaraJerde sara.jerde@adweek.com Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.
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