Hedge Fund Behind Trump’s Favorite Tabloid To Own McClatchy (1)

McClatchy Co., the owner of the Miami Herald, Kansas City Star and other newspapers, has become the latest casualty of the collapsing industry to fall into hands of an investment firm.

Only a day after Warren Buffett’s long-time business partner predicted the death of newspapers, the struggling McClatchy filed for bankruptcy in New York with plans to hand majority ownership of one of the industry’s largest newspaper publishers to hedge fund Chatham Asset Management, owner of the scandal-plagued tabloid National Enquirer.

The plan further tightens the grip of financial firms on the newspaper industry, renewing concerns over the ...