Indebted US newspaper chain McClatchy seek bankruptcy protection

McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers in hthe US, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online. McClatchy said Thursday that its 30 newspapers will continue to operate normally as it reorganizes under Chapter 11 bankruptcy protection, helped by $50 million in financing from Encina Business Credit. The company hopes to emerge from...