Creditors Move to Buy McClatchy, Opening Door to Bidders Interested in the Whole Company

McClatchy’s largest creditors offered to buy the bankrupt media company Thursday, a move that, if approved, would kick off an auction among parties interested in owning the nation’s second largest local media company.

The court filing comes as the coronavirus crisis has wrecked the global economy, endangering the future of McClatchy and other media companies. McClatchy and its creditors have also watched as legal fees have quickly piled up in the bankruptcy case filed in February.

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