Hedge fund wins auction for bankrupt McClatchy newspaper chain


There's some news for readers and employees of the Fort Worth Star Telegram. Chatham Asset Management is a hedge fund based in New Jersey. It put forth the winning bid in Sunday's court sanctioned auction over the bankrupt McClatchy newspaper chain, which on several major local newspapers, including the Fort Worth Star Telegram, The Charlotte Observer and the Miami Herald. The proposed agreement positions McClatchy to exit Chapter 11 protection in the third quarter of this year after filing for it back in February. The agreement between the Clatchey and Chatham Asset is subject to court confirmation and is scheduled for a hearing on July 23rd in 1922. It was Star Telegram owner Raymond Carter, who started via radio with an initial budget of $300 saying when the Star Telegram station spent it all he would pull the plug. The station celebrates its 1/100 birthday in May of

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