McClatchy To Merge With A360Media (mediapost.com)

Newspaper company McClatchy is merging with a360media, a magazine firm, creating a giant that will reach 100 million unique readers per year.

The firms, both of which are owned by hedge fund Chatham Asset Management, are profitable, but the merger could triple overall revenue and profits, says Tony Hunter, chairman and CEO of McClatchy, who will hold the same titles at the new entity.

“At the highest level, this creates value that, separately, both of us cannot do,” Hunter says. “If we don’t come together, the value of the individual companies is limited in the near-term.”
more at: https://www.mediapost.com/publications/article/398275/mcclatchy-to-merge-with-a360media.html

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