New Jersey-based hedge fund
Chatham Asset Management has completed its buy of McClatchy,
As of Sept. 4, the entirety of McClatchy's 30 news
organizations and all of its employees transitioned to a new private entity
under
"Today marks the beginning of a new era and
opportunity for McClatchy," said Tony Hunter, CEO of McClatchy. "The
company is now poised for sustainable long-term growth driven by differentiated
local content and an acute focus on our digital presence and offerings."
McClatchy has appointed a new board of directors, of which
Hunter has been named chairman. Additional board members include John Bode, COO
of Readerlink Distribution Services, a book distributor. Earlier in his career,
Bode was CFO of Tribune Publishing Company. Also on the board is Jamal
Mashburn, a business owner and former NBA player. Mashburn owns over 150 local
businesses and franchises in the
McClatchy-owned Sacramento Bee has some background here.
Former McClatchy board chairman Kevin McClatchy wrote a goodbye column with background on his family here.
The Miami Herald, Kansas City Star, The Charlotte
Observer, (
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