Instead of that $50 million check …

Posted on January 14, 2011

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Sacramento-based McClatchy Co., the third largest newspaper publishing company in the U.S., will contribute company-owned real estate to its pension fund. The land and buildings have been appraised at $49.6 million, which makes up for almost all of the $50 million the company was required to put in the fund this year. The company’s chief financial officer calls it a “win-win situation,” but we bet he’s glad he doesn’t have to write that $50 million check.

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Posted in: Twists and Turns