Chatham wins auction to buy McClatchy, will seek final approval from bankruptcy court


“Chatham Asset Management, the New Jersey hedge fund that is McClatchy Co.’s largest creditor, has won an auction to buy the bankrupt local news company,” The Sacramento Bee is reporting.

“Under the proposed deal that will be submitted to the bankruptcy court for approval, Chatham would buy the entire company, McClatchy said Sunday. 

“‘As long-standing supportive investors in McClatchy, we are pleased with the outcome of the auction,’ Chatham said in a statement. “Chatham is committed to preserving newsroom jobs and independent journalism that serve and inform local communities during this important time.”

The rest of the article is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for 12 years, and he was a founding editor and Editor of CNET News for eight years, among other positions. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing, swimming, and trout fishing in the Sierra.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s