McClatchy company
The McClatchy company, one of the largest and most respected American news publishers, announces that hedge fund Chatham Asset Management won its bankruptcy sale in a court-supervised auction. Chatham, which owns the "National Enquirer", has been an investor in the company since 2009. Court confirmation, likely at a hearing on July 24, is required. McClatchy has been burdened by heavy debt from its large pension obligations and the acquisition of newspaper chain Knight Ridder.
Sources: Reuters The New York Times