Hedge fund Chatham Asset Management's bid succeeded in a court-supervised auction for bankrupt news publisher McClatchy Co , the news company said on Sunday.
FILE PHOTO: A copy of the Miami Herald is shown on a supermarket rack in Doral, Florida, U.S., March 18, 2019. Picture taken March 18, 2019. REUTERS/Joe Skipper
The Miami Herald publisher said Chatham’s proposed deal, which needs a court confirmation and other regulatory approvals, would help it exit Chapter 11 protection in the third quarter.
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