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.