Chatham Announces Plan to Buy Newspaper Publisher McClatchy

Hedge fund Chatham Asset Management plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control.

The companies did not put a price on the deal in an announcement Sunday. The agreement still needs the approval of a bankruptcy judge; a hearing is scheduled for July 24.

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Facebook Provides $16M in Grants to 200 Mostly Liberal Local Newsrooms

Facebook last week announced that more than 200 news organizations will receive nearly $16 million in grants through the Facebook Journalism Project’s relief fund for local news. These grants come from $25 million in relief funding announced in March from Facebook’s $100 million global investment in news. It includes:

$10.3 million being awarded to 144 US local newsrooms as part of the COVID-19 Local News Relief Fund Grant Program. The fund is supporting many publishers who are hardest hit by this crisis: nearly 80 percent of recipients are family- or independently owned and more than half are published by or for communities of color.

$5.4 million being awarded to 59 North American newsrooms that participated in Facebook Local News Accelerator programs focused on subscriptions and memberships.

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