McClatchy Co. has turned to BGR Government Affairs for strategic guidance and counsel on pension issues as the nation’s third-largest newspaper publisher wants a federal bailout of its underfunded pension fund.
The owner of 30 newspapers, including the Miami Herald, Charlotte Observer and Kansas City Star, asked the Pension Benefit Guaranty Corp. in November to assume control of its pension fund assets and obligations because it will not be able to make the required $124M contribution in 2020.
McClatchy posted a $287M operating loss on $526M in nine-month revenues. Its stock trades at 50 cents. The 52-week range is $8.21 and 29 cents.
BGR’s corporate counsel Dan Murphy, who was chief of staff to Dept. of Housing and Urban Development Secretary Mel Martinez, represents McClatchy.
He's joined by Loren Monroe, Cassidy Assocs. alum and legislative aide to former Sen. Pete Domenici (R-NM); and Joseph Lai, president Trump’s ex-special assistant for legislative affairs.