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The Times said that McClatchy is courting potential buyers to unload one of its largest assets as it struggles with debt and advertising losses.
McClatchy, headquartered in Sacramento, acquired the Herald in 2006 as part of a $4.5 billion purchase of Knight Ridder. Much of its cash flow is used to pay off that debt, the Times said.
Shares of McClatchy rose 10 cents to close at $2.20 Friday.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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