Under Hedge Fund Set to Own McClatchy, Canadian Newspapers Endured Big Cuts

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In October 2016, a New Jersey hedge fund assumed ownership of Canada’s largest newspaper chain with very little fanfare. Few people noticed, including some of the chain’s employees.

The fund, Chatham Asset Management, acquired two-thirds of Postmedia, the publisher of The National Post, the Vancouver Sun and several other major Canadian papers, by trading a portion of the money it was owed for the majority ownership stake.

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