McClatchy’s half-billion-dollar pension shortfall threatens liquidity crisis

//McClatchy’s half-billion-dollar pension shortfall threatens liquidity crisis

McClatchy’s half-billion-dollar pension shortfall threatens liquidity crisis

The McClatchy Co., publisher of the Sacramento Bee and other newspapers, said its employee pension plan was underfunded by $535 million as of March, creating “a significant liquidity challenge” for the company next year. McClatchy (NYSE: MNI) reported a loss of $304.7 million in the third quarter, compared with net income of $7.04 million the third quarter of the previous year. The recent quarter's loss included noncash impairment charges of $258.1 million in goodwill and $37.2 million in the…

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By | 2019-11-13T22:24:50+00:00 November 13th, 2019|Media|

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