There are also headlines about McClatchy.
Final bids were due yesterday in McClatchy’s bankruptcy auction. McClatchy believed it would get a number of offers for its business, a lawyer for the company said, according to the Wall Street Journal.
McClatchy filed for Chapter 11 in February.
McClatchy is not expected to release the names of bidders until a winner is made known because of non-disclosure agreements, McClatchy’s D.C. bureau said. The one known bid so far is from stalking-horse bidder Chatham Asset Management, the hedge fund that is McClatchy’s biggest creditor.
Meanwhile, a federal bankruptcy judge Wednesday held off on ruling on whether a number of creditors can sue McClatchy concerning a 2018 debt refinancing. Judge Michael E. Wiles said he would have his decision on Monday, McClatchy’s D.C. bureau reported.