‘Miami Herald,’ ‘Kansas City Star’ Publisher McClatchy Co. Files for Bankruptcy Protection
By CBS News // February 14, 2020
McClatchy's origins date to 1857
ABOVE VIDEO: The publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the nation has filed for bankruptcy protection.
(CBS NEWS) – The publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the nation has filed for bankruptcy protection.
McClatchy Co.’s 30 newsrooms, including The Charlotte Observer and The Star-Telegram in Fort Worth, will continue to operate as the publisher reorganizes under Chapter 11.
McClatchy’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 to continue.
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