NEW YORK (AP) - The publisher of the Lexington Herald-Leader, Miami Herald, The Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection.
The Herald-Leader says the Chapter 11 filing will allow McClatchy to restructure its debts and, it hopes, shed much of its pension obligations.
McClatchy Co. said Thursday that it will continue to run normally as it pursues approval of its restructuring plan under Chapter 11. Its 30 local newsrooms are operating as usual.
McClatchy expects fourth-quarter revenues of $183.9 million, down 14% from a year earlier. Its 2019 revenue is anticipated to slide 12.1% from the previous year.
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