Hedge Fund's Bid For McClatchy Heads To Judge Next Week

Law360 (July 13, 2020, 3:45 PM EDT) -- Hedge fund Chatham Asset Management's bid for McClatchy Co. will go before a New York bankruptcy judge for approval before the end of July, the newspaper chain has announced.

The announcement Sunday that Chatham had come out on top of an auction McClatchy had held on Thursday did not contain any details of the bid, but Chatham and another senior creditor had proposed a $263 million credit bid for the bankrupt newspaper chain's assets in April.

"We're pleased that Chatham and the supportive secured first-lien creditors believe in our business and our mission and are helping to achieve these goals," McClatchy...

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