Bloomberg Law
Nov. 18, 2019, 7:39 PM UTCUpdated: Nov. 18, 2019, 10:53 PM UTC

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

Josh Saul
Josh Saul
Bloomberg News
Gerry Smith
Gerry Smith
Bloomberg News

<-rte-company state="{"_id":"0000016e-800f-d283-a77e-cd9fa0260000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">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 <-bsp-bb-link state="{"bbDocId":"Q0WUWE3MSFLS","_id":"0000016e-800f-d283-a77e-cd9fa0270000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">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 <-bsp-person state="{"_id":"0000016e-800f-d283-a77e-cd9fa0280000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Craig Huber, founder of <-bsp-bb-link state="{"bbHref":"bbg://securities/1518437D%20US%20Equity","_id":"0000016e-800f-d283-a77e-cd9fa0280001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">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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