The Bell Tolls For the Tacoma News Tribune

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McClatchy Co. filed for bankruptcy Thursday, a move that will end family control of America’s second largest local news company and hand it to creditors who have expressed support for independent journalism.

The Chapter 11 filing will allow McClatchy to restructure its debts and, it hopes, shed much of its pension obligations. Under a plan outlined in its filing to a federal bankruptcy court, about 60 percent of its debt would be eliminated as the news organization tries to reposition for a digital future.

McClatchy

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Author: Jason Remington

Creator, Admin, & Editor of PugetSound.Media, former broadcaster at KAMT/Tacoma, KRPM FM/Tacoma, KJUN/Puyallup, KASY/Auburn, KTAC AM/Tacoma, KBRD FM/Tacoma, KMTT FM/Tacoma, and KOOL FM/Phoenix. View other articles by Jason Remington

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