Newspaper Publisher McClatchy Files For Chapter 11 Protections

McClatchy, the second largest local news company, filed for Chapter 11, ending 163 years of family control. The company will be managed by a New Jersey hedge fund. Despite financial struggles, including a large pension plan and declining revenues, McClatchy remains committed to local news. The consolidation of local news raises concerns about reduced diversity and accountability. Experts call for rethinking local journalism as a public good deserving of philanthropic and public support.

What significant change is McClatchy undergoing as part of its Chapter 11 filing?

• Launching a new digital platform

• Merging with another news company

• Transitioning control to a hedge fund

• Expanding its operations to new states

What historical event marked a significant financial challenge for McClatchy?

• The opening of a new headquarters

• The launch of a new newspaper in 1857

• The acquisition of Knight Ridder in 2006

• The introduction of a digital subscription model

What decision did McClatchy make regarding its print issues?

• Cut Saturday print issues network-wide

• Introduce a new magazine

• Switch to digital-only publications

• Increase the number of print issues

What is a major concern associated with the decline of local journalism?

• Higher profitability for local newspapers

• More local news outlets opening

• Decreased diversity in news coverage

• Increased government and corporate accountability

What is suggested as a new way to view local journalism?

• As an outdated medium

• As a commercial good

• As a public good deserving support

• As a luxury service