McClatchy ruling

There are also headlines about McClatchy.

Final bids were due yesterday in McClatchy’s bankruptcy auction. McClatchy believed it would get a number of offers for its business, a lawyer for the company said, according to the Wall Street Journal.

McClatchy filed for Chapter 11 in February.

McClatchy is not expected to release the names of bidders until a winner is made known because of non-disclosure agreements, McClatchy’s D.C. bureau said. The one known bid so far is from stalking-horse bidder Chatham Asset Management, the hedge fund that is McClatchy’s biggest creditor.

Meanwhile, a federal bankruptcy judge Wednesday held off on ruling on whether a number of creditors can sue McClatchy concerning a 2018 debt refinancing. Judge Michael E. Wiles said he would have his decision on Monday, McClatchy’s D.C. bureau reported.

Where the nation’s second-biggest newspaper company will land has also been the subject of industry speculation.

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