The sale concludes the McClatchy family’s 160-plus year run at the head of what had been one of the largest newspaper chains in the country, which traded under the stock ticker MNI on the New York Stock Exchange. The transaction, expected to close in September, includes the McClatchy name, the Tri-City Herald and 29 other news organizations. Other properties include the Miami Herald, Fort Worth Star-Telegram, Kansas City Star and Sacramento Bee and three other Washington newspapers – the News Tribune of Tacoma, the Bellingham Herald and the Olympian. The court subsequently approved the sale of most assets, McClatchy announced on Aug. The New Jersey hedge fund’s offer included a $263 million credit bid of McClatchy’s first-lien debt and $49 million in cash. Bankruptcy Code in February in New York.Ĭhatham was the successful bidder in an auction held July 10. McClatchy bought the Herald in 1979 and ran it as a daily newspaper, and more recently, as a digital news site, for the next four decades.īut struggling under pension issues, declining advertising and circulation, and debt associated with its 2006 acquisition of the Knight-Ridder newspaper chain, McClatchy filed for protection from creditors under Chapter 11 of the U.S. They plan to transform the downtown building into multi-tenant office space. Pasco investors spent $3.9 million to buy the 102,000-square-foot Tri-City Herald building on 333 W. Canal Drive for 10 months. The corner of West Canal Drive and North Cascade was the Herald’s home for generations. McClatchy agreed to lease space in the 102,000-square-foot mixed-use office and industrial building at 333 W. The move fulfills plans spelled out in October when McClatchy entered a $4 million sale-leaseback deal for its Kennewick campus with D9 Contractors Inc. of Pasco. The Southridge building best fit its needs, said Jerry Hug, general manager for the Tri-City Herald and Northwest director for McClatchy finance/chief financial officer. It considered several locations, including remaining in downtown Kennewick. 24th Ave. in Kennewick’s Southridge neighborhood the week of Aug. The staff left its longtime home in downtown Kennewick for new offices at 4253 W. With a Kennewick Tri-City Herald subscription you’ll know more about Mid-Columbia, keep up with the weather, and better enjoy Tri-City life.The Tri-City Herald has new offices and soon will have a new owner after a bankruptcy judge approved the sale of its parent, McClatchy, to its leading creditor, Chatham Asset Management LLC. Plan a movie night, hear some live music, find a new place to eat, and more with Herald arts and entertainment listings.Stay in the loop on local business news with Herald updates on local wineries, blueberry farms, shop openings, and visiting speakers.Get the latest wind advisories, snowfall and flood warnings, and road-closure updates in the weather section.Follow local politics, read about state legislative news, and see who’s coming to the Tri-Cities as part of national campaigns.Keep an eye on southern Washington weather, city news, school updates, and more with the Herald: ![]() A Kennewick Tri-City Herald newspaper subscription gives you print and electronic access to daily, weekend, or Sunday editions. The Tri-City Herald has covered the Mid-Columbia area of Washington State since 1918, and reaches Franklin and Benton counties with local, sports, state, and national news.
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