McClatchy, Publisher of 29 Newspapers, Teeters Near Bankruptcy (Correct)

Nov. 18, 2019, 7:39 PM; Updated: Nov. 18, 2019, 10:53 PM

The McClatchy Co., the storied news publisher weighed down by pension obligations and debt, could file for bankruptcy within the next year, according to analysts.

The company faces a mandatory $124 million contribution to its pension plan in 2020.

“If they can’t offload the pensions or get pension plan relief, they’ll have to file for bankruptcy,” said media analyst Craig Huber, founder of Huber Research Partners LLC, who has followed the company since 1995. In an interview, Huber estimated McClatchy would have free cash flow of less than $20 million next year, a fraction of what it...

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