Ken Doctor: something is about to give at McClatchy; Pruitt is just setting the table in preparation

Ken Doctor doesn't buy Gary Pruitt's explanation that his resignation from 4 family trusts is long-planned and coincidental.

The McClatchy CEO issued a statement to tamp down journalists' and analysts' saying his stepping apart from four family trusts may signify financial restructuring and/or going private. Maybe that's so -- and the move is long-planned and coincidental to the company's current stress. Pruitt had to know that the trustee change would be found by journalists, and that would start speculation. So why not get out ahead of it, with a statement? Yes, the means of restructuring are tough, but something is going to give somewhere at McClatchy, and it's hard not to see this move as one part of setting the table for it.

Agreed. Pruitt's explanation for resigning from the trusts doesn't ring true.

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