From the department of when it rains it pours……
The spate of newspaper bankruptcies have left McClatchy with no clear way to collect some $5.3m. owed the company. At a time when MNI properties across the country are announcing layoffs, furloughs, and paycuts trying to find the $100m. in savings promised Wall Street — five mil is a good hunk of change.
That MNI execs did not seek to re-write agreements with these troubled peer outlets before bankruptcy is another damning indictment of their performance. As if we need another.
