McClatchy, the Sacramento-based company with 30 newspapers in 14 states, filed for Chapter 11 bankruptcy protection last week. Under the proposed sale, Chatham Asset Management LLC would operate McClatchy as a private company.
“As a supportive investor in McClatchy since 2009, Chatham is committed to preserving independent journalism and newsroom jobs. We look forward to working with the company in the best interests of all stakeholders,” Chatham said in a news release.
In California, McClatchy’s properties include The Sacramento Bee, The Modesto Bee, The Fresno Bee, Merced Sun-Star, Los Banos Enterprise, Sierra Star in Oakhurst and The Tribune in San Luis Obispo.
Elsewhere: How the McClatchy family went from fortune to bankruptcy (The Sacramento Bee)
Previously: The Fresno Bee plans move to downtown’s historic Bitwise 41 building (The Fresno Bee)
