Major Newspaper Publisher McClatchy Nearing Bankruptcy: Reports

A man reads a newspaper while sitting on a bench. Roman Kraft/Unsplash

The McClatchy Company, long a major player in U.S. legacy media, may have to file for bankruptcy soon due to massive debt and large, unfunded pension obligations, according to reports.

McClatchy operates 29 newspapers, including The Miami Herald, The Charlotte Observer, The Kansas City Star, The Fresno Bee, The Kansas City Star, and The News and Observer (Raleigh, North Carolina).