On a side note: Appert addresses McClatchy CEO Gary Pruitt's resignation from the McClatchy family trusts ... While it might seem tempting to think that McClatchy is prepping to go private, Appert notes that "MNI's debt levels and tight credit market conditions preclude a go-private transaction at this point."
Fitz: I think he's absolutely right about McClatchy. Unless some Russian oligarch gets an itching to grab a piece of the Fresno Bee cheap, I just don't see a going-private deal in the foreseeable future.
Morningstar's Corbett has his own observation about Pruitt: He thinks the CEO "is preparing shareholders for a likely dividend cut by the end of the year."
McClatchy (MNI) shares are down over 3 percent as of 1:30 EST.
1 comment:
They have too much debt to keep paying Gary but they do.
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