Aug. 4, 2020 – U.S. Bankruptcy Court Judge Michael Wiles approved the sale of the McClatchy Company’s assets to Chatham Asset Management on Tuesday for $263 million in debt and $50 million in cash, with Chatham granting a new $87 million loan. The newspaper chain had filed for bankruptcy in February. Continue reading “Judge Approves McClatchy Sale; Chatham to Assume Labor Agreements”
July 13, 2020 – Chatham Asset Management, the hedge fund that is McClatchy Co.’s largest creditor, won an auction to buy the bankrupt news company on Friday. McClatchy owns 30 publications in 14 states and Washington, D.C., including the Miami Herald, the Kansas City Star, the Sacramento Bee, the Charlotte Observer, the (Raleigh) News & Observer and the Fort Worth Star-Telegram. Continue reading “In wake of McClatchy auction, Guild vows to fight for journalists and readers”
March 20, 2018 – Workers at the Boston Herald voted unanimously to ratify collective bargaining agreements on March 15, following a grueling period of uncertainty and strife that began when former owner Pat Purcell declared bankruptcy on Dec. 8.
The agreements averted major cuts to pay and benefits, which the new owners, Digital First Media, could have imposed on March 19, when their bid to purchase the Herald received final approval from the bankruptcy court. Continue reading “After Bankruptcy, Boston Herald Employees Vote Unanimously to Ratify New Contracts”