By: Mark Fitzgerald
Chicago-based Ariel Capital Management Inc. is now the biggest single shareholder in The McClatchy Co.’s publicly traded stock, according to a Securities and Exchange Commission (SEC) filing.
Ariel disclosed it owns 15,696,420 shares of McClatchy (NYSE:MNI) or 27.5% of outstanding shares of the company’s Class A stock. In a July SEC filing, Ariel said its stake in Class A stock was 22.4%.
Sacramento, Calif.-based McClatchy, publisher of The Miami Herald and 30 other dailies, is controlled by mostly by McClatchy family members through Class B super-voting shares which are not publicly traded.
In Monday’s trading, McClatchy closed unchanged at $22.08. It has traded in a range of $21.37 to $44.95 in the past 52 weeks.