Thursday, February 4, 2010

McClatchy's Survival Story

Once considered a shoo-in for bankruptcy McClatchy, the third-largest U.S. newspaper chain, has recently seen its fortunes change. Layoffs and other cost-cutting measures have helped its share price double since August. No longer put off by the company's $2 billion in debts, the rating agencies now say they're ready to raise its credit grade, especially if it pulls off a planned debt deal.

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