Media that are going down alert!

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McClatchy Wants Tax Dollars to Pay for the Pension Funds

Yahoo News reported that “McClatchy Co., the fifth-largest newspaper company in the U.S. by circulation according to Statista last year, is looking for a bailout of its pension fund.”

“McClatchy is in talks with the federal government about possibly taking over its pension fund as it is unable to make a $124 million contribution due through 2020.”

The Pension Benefits Guaranty Corporation, which was set up by Congress, would keep the promises the chain of newspapers made to its employees.

McClatchy said, “The IRS has declined to grant the company’s three-year waiver request. Management continues to explore other means of pension relief including working productively with many members of Congress in search of legislative relief that would mitigate the burden of the minimum required contributions. The company and its advisers are exploring all available options to address these liquidity pressures.”

The anti-Trump paper wants its handout from the Trump administration. They are big on reporting fake news like Michael Cohen allegedly traveling to countries he never visited.

They are corrupt and people know it. They are going down unless Democrats decide to fund them at some point.

ANOTHER BIG MERGER & LAYOFFS

At the same time, The New York Times reported, “It’s a go. Shareholders voted on Thursday to approve a deal that would join the two largest newspaper chains in the United States, all but guaranteeing the creation of a newspaper colossus that is likely to result in thousands of layoffs.

“The combination of GateHouse Media and Gannett — already the two largest newspaper owners in the country, by both number of papers and print circulation, according to researchers at the University of North Carolina — means that more than 260 dailies and 300 weekly newspapers will be run by the same company. The merger is expected to reach formal completion on Tuesday, the companies said in a statement.”

They keep getting bigger and offering more limited opinions while silencing people who disagree. That’s why the fake news media will go the way of the horse and buggy.


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Hugh
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Hugh
4 years ago

Anti-American foreign entities will gladly prop-up McClatchy, et al. But such monies come with strings, so McClatchy prefers and is hoping for the ‘free’ taxpayer money first. Failing that, they’ll still publish under the suffocating burdens of: “nice paper ya got there, shame if it didn’t see things our way”.

Retsambew
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Retsambew
4 years ago

Let ’em die. Taxpayers are NOT responsible for piss-poor business practices. DO NOT shovel any money in their direction.

TruthSeeker55
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TruthSeeker55
4 years ago

Ricky Ricardo….. THANKS for your comment!

————————————–

The local McClatchy rag here in south Mississippi, the ‘Sun-Herald’ is likewise circling the drain.

They have stopped local printing. The paper (such as it is) is printed 3 hours north of here in Jackson, MS and trucked in.

The paper is getting physically smaller and smaller (fewer and fewer pages) while the price goes up and up.

They are selling their longtime main building on the Gulfport-Biloxi border and looking to ‘rent office space locally’, if I recall correctly.

They are reworking their website to put most of their articles behind a paywall. (But better local news is also available from 3 or 4 other sites that are free.)

They are running ads on the same local station (WBUV) that carries Beck/Rush/Hannity/Buck Sexton/Mark Levin (in that order)…. and the ads sound good, but then I go to the Sun-Herald website and glance at the NASTY ANTI-President Trump ‘Editorial Cartoon’, and I say…. NO WAY am I supporting THIS bunch!

Let ’em DIE!

My Give-A-Dam’s Busted.

Mark
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Mark
4 years ago

No money for you! You are evil, bad people!

(to the cadence of the soup nazi)

suibne
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suibne
4 years ago

just the beginning……huffpo,wapo,nyt,politico,the hill and fifty or so pssssss ant leftist socialist operative sites.