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McClatchy sells Raleigh, NC, property

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McClatchy sells Raleigh, NC, property

McClatchy Co. sold The News & Observer downtown (Raleigh, N.C.) headquarters to an acquisition group led by Sam and Babak Sotoodeh for $22 million.

McClatchy may use the proceeds to repurchase debt, reinvest in the business or for other uses as determined by its board, the company said Nov. 30.