McClatchy, second-largest US newspaper group, in bankruptcy

McClatchy, the second largest US newspaper group, announced Thursday it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector.

The company said it would keep operating its 30 regional newspapers -- including the Miami Herald and Kansas City Star -- as it seeks to shed much of its debt and focus on "digital transformation." A reorganization plan included in the bankruptcy filing could hand over ownership of the newspaper chain to the private equity group Chatham Asset