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McClatchy Files for Bankruptcy

HeadlineFeb 14, 2020
H10 mcclatchy bankruptcy newspaper publisher
Image Credit: mcclatchy.com

The nation’s second-largest publisher of local newspapers has filed for bankruptcy in the latest signal of the financial crisis in the journalism world. McClatchy is the owner of the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The News & Observer in Raleigh, North Carolina, and the Fort Worth Star-Telegram in Texas, among other local papers. It recently won a Pulitzer Prize for the Miami Herald’s reporting on Jeffrey Epstein, but it has been plagued by layoffs and financial troubles. McClatchy says it plans to stay in business and will use bankruptcy to shed legacy debt and pension obligations.

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