IndyWeek: Troubled News & Observer Parent Company Skips Pension Payments

The McClatchy Company, which owns The News & Observer, The Charlotte Observer, and The Durham Herald-Sun , announced Thursday that it would skip pension payments for some of its more than 24,000 former employees.

The Sacramento Bee , owned by McClatchy, reported that the halt of “supplemental” and “non-qualified” retirement benefits would affect about 600 people, mostly former employees of the Knight-Ridder newspaper chain, whose $4.5 billion acquisition in 2006 has left McClatchy with an unsustainable amount of debt.

Former employees of The Charlotte Observer may be affected.