Nov 19

McLatchy–one of the largest “mainstream” news chains–nears bankruptcy

Bloomberg reports that “The McClatchy Co., the storied news publisher weighed down by pension obligations and debt, could file for bankruptcy within the next year.”

McClatchy operates a news service and owns the Miami Herald, the Kansas City Star, the Charlotte Observer and other pro-government (“mainstream”) papers. Its reporters and content have been repeatedly linked to CIA funding and support.

In 2006, McClatchy bought the Knight Ridder chain (another failing pro-government newspaper company) for $4.5 billion.

But paying subscribers and advertisers continue to decline. Readers simply won’t pay to read government-provided releases and propaganda.