Former Tribune Publishing CEO to take helm of McClatchy when newspaper chain emerges from bankruptcy
Former Tribune Publishing CEO Tony Hunter will become CEO of McClatchy Co. when the newspaper chain emerges from Chapter 11 bankruptcy next month, its new hedge fund owner announced Friday.A longtime Chicago Tribune executive who helped guide Tribune Publishing out of bankruptcy as CEO from 2011 to 2014, Hunter will inherit a similar situation at McClatchy under Chatham Asset Management.The New Jersey hedge fund acquired McClatchy, which publishes the Miami Herald and other major newspapers, for about $312 million at a bankruptcy auction in July. The sale, which was approved by a New York bank...
Can PG&E keep California from burning again? 'Nervousness' as fire season arrives
SACRAMENTO, Calif. — PG&E Corp. is nearing the exit doors on its bankruptcy — and now faces the enormous task of delivering on its promise to prevent major wildfires in California.The battered utility, driven into bankruptcy after its power equipment was blamed for a string of deadly mega-fires, is expected to receive the blessing for its Chapter 11 reorganization plan this week from U.S. Bankruptcy Judge Dennis Montali.The green light will arrive two weeks before a deadline imposed by the Legislature — and represents a landmark achievement for a company that just a few months ago was being th...
The Sacramento Bee
California wildfire victims approve $13.5 billion payout by 'overwhelming' margin, PG&E says
SACRAMENTO, Calif. — PG&E Corp. said Monday it believes thousands of Northern California wildfire victims have approved the utility’s $13.5 billion payout plan, clearing the way for PG&E to emerge from bankruptcy.In a prepared statement, the company said that, based on preliminary results, the plan has won “overwhelming acceptance” from the approximately 70,000 victims who were eligible to vote.The $13.5 billion is designed to compensate victims for their uninsured losses from a series of major wildfires blamed on PG&E’s faulty equipment. That includes the 2017 wine country fires and the Novem...
The Sacramento Bee