Web16 nov. 2024 · McClatchy marked down the value of its chain of 30 regional newspapers by nearly $300 million. That is booked as a loss by accounting rules but does not involve paying out any cash.
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Web10 sep. 2024 · The agency estimates that McClatchy’s plan is 57% funded with approximately $1.3 billion in assets and $2.3 billion in benefit liabilities. The PBGC said McClatchy retirees will continue to receive benefits without interruption, and future retirees may apply for benefits as soon as they reach eligibility. Web18 nov. 2024 · The McClatchy Co., the storied news publisher weighed down by pension obligations and debt, could file for bankruptcy within the next year, according to analysts.
Web23 uur geleden · Share with friendsAlthough McClatchy’s 30 newspapers, including The Fresno Bee, have yet to report on it, the chain’s owner, hedge fund Chatham Asset Management, and its founder, Anthony Melchiorre, have settled a dispute with the Securities and Exchange Commission for $19.3 million. Before the settlement, the SEC alleged that … WebIn addition to its daily newspapers, McClatchy also operates several websites and community papers, as well as a news agency, McClatchy DC Bureau, focused on political news from Washington, D.C. ... The company cited pension obligations and excessive debt as the primary reasons for the filing. ...
The company originated with The Daily Bee, first published in Sacramento, California, on February 3, 1857, by Native American writer Rollin Ridge. James McClatchy joined Ridge as a partner and took over as editor. Known as a supporter of the people's interests against corporations and corrupt politicians, McClatchy made The Bee a bastion of progressive reformism. Upon McClatchy's death in 1883, the paper's leadership passed to James' son, Charles Kenny McClat… Web14 nov. 2024 · See, McClatchy had asked the IRS for a waiver that would let it skip its upcoming pension plan payment, due next fall, arguing that the fund, with $1.32 billion in hand, was in good-enough shape to handle it. McClatchy also made clear that its financial condition would make it hard to make that $124 million payment.
WebKnight Ridder / ˈrɪdər / was an American media company, specializing in newspaper and Internet publishing. Until it was bought by McClatchy on June 27, 2006, it was the second largest newspaper publisher in the United States, with 32 daily newspaper brands sold. Its headquarters were located in San Jose, California. [1]
Web1 feb. 2024 · On September 04, 2024, the Pension Benefit Guaranty Corporation took responsibility as trustee for the defined benefit pension plan sponsored by The McClatchy Company. The McClatchy Company Retirement Plan ended as of August 31, 2024. The plan covers more than 24,000 workers and retirees. fl20190c16wl_fWeb26 jun. 2024 · McClatchy, the nation’s second largest local news company, owns 30 media titles in 14 states and Washington, D.C., including the Miami Herald, the Kansas City Star, the Sacramento Bee, the ... cannot load php8apache2_4.dllWeb4 sep. 2024 · WASHINGTON — The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for The McClatchy Company Retirement Plan, which covers over 24,000 current and future retirees. The California-based newspaper publisher operates 30 media companies in 14 states. fl2016w what does it fit