Founded in 1857, the McClatchy Co. was one of the largest and longest-lived family-owned newspaper publishing companies in the United States before it declared bankruptcy in 2020 and was sold to a hedge fund later that year. During their heyday, McClatchy newspapers championed liberal and progressive causes and charted the path for California to become a global economic and intellectual force for change. After 163 years under family control, the company was sold to New Jersey hedge fund Chatham Asset Management, which took control of its more than 30 newspapers nationwide.

The company’s newspapers were known for high-quality journalism, winning a string of awards while under the leadership of C. K. McClatchy. Out of step with profit-driven corporate journalism, C. K. McClatchy led the company in ...

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