Print centre to shut as publisher addresses pension obligations

US newsmedia giant McClatchy is vacating the print centre it sold to its pension fund in 2016.

The Doral plant - next door to the Miami Herald's head office - was built between 2012-2013 and sold to the pension plan for almost US$14 million.

McClatchy missed a pension payment and US$12 million debt interest due this month, and is reported to be "in talks" with the federal pension guarantee corporation about its obligations.

Printing of the Miami Herald and el Nuevo Herald is to move to the South Florida Sun Sentinel's plant in late April, with the loss of 70 jobs - about half of them full-time - in Doral, although up to 18 of them may be offered employment in Deerfield Beach.

Read more from:
Comment   Email   Print
Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: