Kevin S. McClatchy (born January 13, 1963) is the chairman of McClatchy and former owner of the Pittsburgh Pirates baseball team. Newspaper giant McClatchy files for bankruptcy, hobbled by debt and declining print revenue. Normally you might figure McClatchy’s value based on it trailing earnings, which were $90 million-plus in 2019. By Associated Press , Wire Service Content Feb. 13, 2020 By Associated Press , … 0. Washington: McClatchy, the second largest US newspaper group, announced Thursday it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector. McClatchy, the second-largest newspaper group in the United States, is filing for bankruptcy. 2 min read 0. McClatchy Co., the third-largest newspaper publisher in the U.S. by circulation, has frozen pension payments to some former executives and enlisted the services of … Gannett, based in McLean, Va., will combine with GateHouse Media to form a conglomerate that will own more than 250 daily newspapers and hundreds of weekly and community papers. This implies the analysts working for those institutions have looked at the stock and they like it. Even as McClatchy ramped up its own digital strategy, it was unable to gain enough revenue to make up for the downturn in print. (AP Photo/Wilfredo Lee, File). And McClatchy’s own Sacramento Bee, the newspaper that started the chain in 1857: Under Hedge Fund Set to Own McClatchy, Canadian Newspapers Endured Big Cuts. Pelosi, Schumer back bipartisan $908B pandemic relief proposal as basis for talks, Couple arrested after boarding flight knowing they had COVID-19: Health officials, 'Assume you became infected' at Thanksgiving: WH task force, Airlines no longer required to treat emotional support pets as service animals, FILE - This Oct. 14, 2009 file photo, shows copies of the McClatchy Co. owned Miami Herald newspaper in Miami. The McClatchy Co., which owns 49.5 percent of The Seattle Times Co., has again cut the value of its share of the Seattle newspaper company -- this time to nothing. Website of McClatchy Washington Bureau: http://www.realcities.com/mld/krwashington/, http://www.realcities.com/mld/krwashington/, https://www.sourcewatch.org/index.php?title=McClatchy_Newspapers&oldid=324025, Creative Commons Attribution-NonCommercial-ShareAlike, (Raleigh) News & Observer (North Carolina). McClatchy already has institutions on the share registry. McClatchy already has institutions on the share registry. The following are The McClatchy Company newspapers. McClatchy, which has filed for bankruptcy protection, operates 30 newspapers in 14 states. This implies the analysts working for those institutions have looked at the stock and they like it. Gannett has had its own … Newspaper giant McClatchy Co., which owns the Miami Herald, filed for Chapter 11 bankruptcy protection and plans to reemerge as a privately held company. The McClatchy Company is not a privately owned company, it is a publicly traded company on the New York Stock Exchange. He led a group of investors that purchased the team in 1996, and served as the team's CEO and lead owner until 2007, when Bob Nutting took over as lead owner, and McClatchy and Nutting hired Frank Coonelly to become CEO. VIEWS. Its initial AllSides Media Bias Rating™ is Center. Today, four national publishers – GateHouse Media/New Media Investment Group, Gannett, McClatchy and Tribune Publishing – own nearly all of the major Florida papers. Fifteen years ago, the McClatchy clan shared a … Funded by / Ownership. The Chapter 11 plan would not have an immediate impact on the publisher’s 30 newspapers. McClatchy buys more newspapers. The Knight Ridder deal also left McClatchy hamstrung by debt. The document will help them begin preparing their own plans, and will outline a phased approach to vaccine distribution. The McClatchy Company is one of the top newspaper businesses in the US. In another sign of the growing financial crisis in print journalism, McClatchy, the owner or 30 US newspapers, has filed for bankruptcy protection. McClatchyDC is owned by the McClatchy Company, which is a publishing company based in Sacramento, California. Then came the recession and a … McClatchy two weeks ago were short, bland and deeply unsatisfying. McClatchy Newspapers is owned by The McClatchy Company, which, in 2006, "purchased Knight Ridder Inc. to then become the second-largest newspaper publisher in the United States." The McClatchy Company 24/7 coverage of breaking news and live events. Another newspaper publisher has swiped left on CareerBuilder. Also see interactive map linking to each newspaper's website. Gannett has had its own … The publisher’s origins date to 1857, when it began publishing a four-page paper in Sacramento, California, following the California Gold Rush. McClatchy Co. said Thursday, Feb. 13, 2020, that it will continue to run normally as it pursues approval of its restructuring plan under Chapter 11. Hedge Fund is said to own McClatchy Oversaw Cuts on Canadian newspapers. SHARES. Its portfolio includes The Kansas City Star, The Miami Herald, The Charlotte Observer, The Sacramento Bee … Yahoo's home page is seen in an undated publicity image. Even as McClatchy ramped up its own digital strategy, it was unable to gain enough revenue to make up … Share Share Share Share Share Share “It’s pretty frustrating,” said Brian Gibson, president of the local union that represents 140 editors for Postmedia Vancouver newspapers. McClatchy does not have time on its side. Publishes 12 daily and 18 community newspapers, including the Star Tribune in Minneapolis-St. Paul, and provides content and business support through Nando Media. On Thursday, McClatchy Co., which owns The Charlotte Observer, The News & Observer, and The Durham Herald-Sun, along with 27 other newspapers in 13 … Washington: McClatchy, the second largest US newspaper group, announced Thursday it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector. Our markets span the nation, from Sacramento, California to Miami, Florida. McClatchy, the second-largest newspaper group in the United States, is filing for bankruptcy. 2100 Q Street {NYSE:MNI} This follows the news from June that CareerBuilder, who still counts McClatchy as a part owner, was selling a majority stake in the company to a private equity firm. McClatchy does not break out revenue or operating income by paper, so the best way to estimate value is to compare to what papers of similar size in large cities have sold for recently. So, too, the family’s fortune. July 16, 2020. in Business. In newspapers his family does not own, obituaries of C.K. This time, McClatchy is doing the dumping. Sacramento, CA 95816-6899 Indeed, they own 39% of the company. The company said it would keep operating its 30 regional newspapers — including the Miami Herald and Kansas City Star — as it seeks to shed much of its debt and focus on "digital transformation." In this economy, all newspapers … McClatchy Newspapers is owned by The McClatchy Company, which, in 2006, "purchased Knight Ridder Inc. to then become the second-largest newspaper publisher in the United States." By Associated Press , Wire Service Content Feb. 13, 2020 By Associated Press , … Chatham, already so entangled as McClatchy’s primary investor and debtholder, has its own unique reasons to want control. McClatchy had that same ability with national and foreign bureaus for 30 newspapers and a Washington bureau that was a finalist for Pulitzer Prizes and won a Pulitzer. Indeed, they own 39% of the company. 0. McClatchy, which filed for Chapter 11 bankruptcy protection Thursday, operates 30 newspapers in 14 states. This follows the news from June that CareerBuilder, who still counts McClatchy as a part owner, was selling a majority stake in the company to a private equity firm. Yahoo Inc. said on Monday it has expanded an online advertising partnership with U.S. newspapers including McClatchy … McClatchy is traded under the ticker symbol MNI. McClatchy said it expected its fourth-quarter 2019 revenue to be $183.9 million, down 14 percent from a year earlier. That paper became The Sacramento Bee. From the 2006 acquisition to 2018, McClatchy cut its operating expenses by nearly 60 percent. Today, I will be analyzing The McClatchy Company’s (AMEX:MNI) recent ownership structure, an important but not-so-popular subject among individual investors. Yahoo Inc. said on Monday it has expanded an online advertising partnership with U.S. newspapers to include McClatchy Co., while two large publishers said they would not join the group. Phone: 916 321-1855 McClatchy is the nation’s second largest publisher of local newspapers behind only Gannett, the publisher of USA Today and hundreds of local newspapers. Another newspaper publisher has swiped left on CareerBuilder. McClatchy’s current market capitalization is a mere $4.5 million, making it the smallest of the publicly-traded newspaper companies. About 20 percent of all U.S. newspapers have closed since 2004, according to a recent report from PEN America, and the sector has shed 47 percent of its jobs. Turn on desktop notifications for breaking stories about interest? McClatchy's headquarters remains in Sacramento. McClatchy has struggled with debt for more than a decade, after it acquired a rival newspaper chain, Knight Ridder, for $4.5 billion in 2006. Yahoo Inc. said on Monday it has expanded an online advertising partnership with U.S. newspapers to include McClatchy Co., while two … The Miami Herald is one of 30 newspapers owned by McClatchy. McClatchy Co., the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. But what’s the value of its new prize on an open, non-bankruptcy court marketplace? Its 9% bonds due 2026 trade at about 89 cents on the dollar to yield 11.5%. The McClatchy newspaper empire took generations to build and scarcely a decade to eviscerate. McClatchy was born in Sacramento, California, the grandson of two eminent figures, George F. Kennan and Charles Kenny McClatchy. McClatchy, which filed for Chapter 11 bankruptcy protection Thursday, operates 30 newspapers in 14 states. McClatchy buys more newspapers. McClatchy will end Saturday publication of print newspapers at its nearly 30 publications in 14 states across the country, including the Fort Worth Star-Telegram, according to … The communities we serve are growing, and we’re proud to provide our readers and local businesses the … As of March 2007, The McClatchy Company "owns 31 daily newspapers in 29 U.S. Website of The McClatchy Company: http://www.mcclatchy.com/ The Times and the much smaller Key West Citizen (acquired Sept. 1 by Easton, Md.-based Adams Publishing Group) are … McClatchy, which has filed for bankruptcy protection, operates 30 newspapers in 14 states. The newspapers include The Miami Herald and The Kansas City Star and will continue to operate as McClatchy reorganizes under bankruptcy protection, according to the company. McClatchy’s financial burden was laid bare in its third-quarter results ended Nov. 13. California, USA. See list and biographical links for McClatchy Newspapers editors and correspondents here. markets." The newspaper's own reporting outed the billionaire buyer, who reportedly arranged the $140 million deal through his son-in-law. McClatchyDC is the Washington-based news bureau of The McClatchy Company. The Knight Ridder deal also left McClatchy hamstrung by debt. This page was last edited on 19 June 2008, at 11:16. McClatchy’s current market capitalization is a mere $4.5 million, making it the smallest of the publicly-traded newspaper companies. WASHINGTON, Feb 13 — McClatchy, the second largest US newspaper group, announced today it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector. It was the last great financial deal in newspapering, 9.5 times cash flow. [1]. The Miami Herald is one of 30 newspapers owned by McClatchy. In 2006 it happily sold the 32 newspapers to McClatchy for $4.5 billion plus the assumption of $2 billion in debt. They operate 29 daily newspapers in fourteen states with some notable newspapers being the Sacramento Bee, The Miami Herald, and Charlotte Observer.McClatchyDC is funded through advertising and subscriptions. Each market in the McClatchy family was selected for its strength and its potential. McClatchy Newspapers. Its 9% bonds due 2026 trade at about 89 cents on the dollar to yield 11.5%. The McClatchy family first entered into the newspaper industry during the California gold rush — not the Silicon Valley one of the 1980s and 1990s, the original one, where a 24-year-old journalist (and frustrated gold miner) took a job with the short-lived Placer Times, in the settlement that would become Sacramento. — AFP pic. The following are The McClatchy Company newspapers. Email: contact AT mcclatchy.com As of March 2007, The McClatchy Company "owns 31 daily newspapers in 29 U.S. Under Hedge Fund Set to Own McClatchy, Canadian Newspapers Endured Big Cuts. McClatchyDC offers original reporting on political news, with a focus on the White House, Congress and policy initiatives. McClatchy’s current market capitalization is a mere $4.5 million, making it the smallest of the publicly-traded newspaper companies. McClatchy has about 30 daily papers with a combined circulation of about 2.6 million. — AFP pic. WASHINGTON, Feb 13 — McClatchy, the second largest US newspaper group, announced today it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector. McClatchy is the nation’s second largest publisher of local newspapers behind only Gannett, the publisher of USA Today and hundreds of local newspapers. In this economy, all newspapers face ominous slides in ad income and market share. markets." In another sign of the growing financial crisis in print journalism, McClatchy, the owner or 30 US newspapers, has filed for bankruptcy protection. This time, McClatchy is doing the dumping. 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