Reuters names Lasseter its new enterprise editor for finance and markets
Tom Lasseter will be taking on the role of enterprise editor for Reuters’ global finance and markets team. In his new role, he will be reporting, writing and will also be leading investigative teams and editing initiative pieces. He plans to move to Washington, DC this summer. Previously, Lasseter was serving as special correspondent in […]
Sacramento Bee publisher departs amid pandemic rescheduling
Gary Wortel, president and publisher of The Sacramento Bee will be leaving the company effective immediately. He is one of the four executives across McClatchy whose jobs are being eliminated to reduce expenses and maintain journalism operations as the economic effects of the pandemic tighten. Lauren Gustus, an editor, will take on the role of […]
McClatchy to move subscribers online
McClatchy publications will move to a digital-only format, amid recent legal proceedings around its bankruptcy filing. Aminda Marqués González, president, publisher and executive editor, said in the announcement, it “was a very difficult business decision reached after thoughtful analysis and deliberation…as more readers find their news online, demand for print is declining and publishers, including […]
A crisis in local journalism
Last February, the McClatchy Company filed for bankruptcy. Under Chapter 11 approval, it would seek a pension restructuring plan for the more than $700 million in debt it has been carrying for years. The news came as some of its local papers struggled to stay afloat. Chatham Asset Management, the hedge fund that owns the […]
McClatchy files for bankruptcy
Newspaper publishing giant McClatchy filed for bankruptcy this morning, marking yet another milestone in the declining state of local journalism. According to The Washington Post, the filing will “allow the Sacramento-based company to keep its 30 newspapers afloat while it reorganizes more than $700 million in debt, 60 percent of which would be eliminated.” Pending […]
Newspaper parent McClatchy shares fall in value
McClatchy might be in a financial flux with announcing a large third-quarter loss and warnings of a potential liquidity crisis next year. To top it off, shares in the publishing company fell 65 percent on Friday. The recent quarter’s loss included noncash impairment charges of $258.1 million in goodwill and $37.2 million in the loss […]
Tribune, McClatchy revive merger talks
Executives at Tribune and McClatchy are circling one another once again to revive merger talks that had died down nearly a year ago. The news comes from industry analyst Ken Doctor, who cites several unidentified people with knowledge of the discussions. Doctor said, “While I don’t expect any imminent announcements, both companies’ executives agree that, […]
McClatchy ceases publication of Saturday print editions
California-based publishing house McClatchy announced on Wednesday that it planned to eliminate Saturday print issues at all its daily newspapers by the end of 2020. Currently, the newspaper chain has over 30 publications in 14 states. With this move, subscribers to The Miami Herald, The Fort Worth Star-Telegram, The Charlotte Observer and other papers will […]
Google to create digital news site with McClatchy
McClatchy announced that Youngstown, Ohio would be the launch city for The Compass Experiment. The Compass Experiment is a collaboration with tech giant Google to help develop sustainable local digital news models. Mandy Jenkins, general manager of The Compass Experiment, pointed out that the move was well-timed: “When we heard that Youngstown’s daily newspaper, The […]
