trending Market Intelligence /marketintelligence/en/news-insights/trending/rMWjGMF5yKa4DuDpCUfiww2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

McClatchy reaches standstill agreement with Pension Benefit Guaranty

Pandemic To Propel Rise Of Mobile Payments In India's $781B Point-Of-Sale Market

Belarus: Pay TV, Broadband Market Overview

Global Operators Expand Integrated Access To OTT Services

European And U.S. Children Are Growing Up On SVOD TV Programming


McClatchy reaches standstill agreement with Pension Benefit Guaranty

McClatchy Co. entered into a standstill agreement with the Pension Benefit Guaranty Corp. related to the company's underfunded pension program.

Under the terms of the standstill agreement, the PBGC agreed not to exercise the remedies available to it as a result of McClatchy not making its scheduled qualified pension contribution due Jan. 15. The PBGC agreed to a forbearance period until Feb. 18, unless terminated earlier.

McClatchy said it will take the option to defer paying interest on its secured debt for its contractual 30-day grace period. McClatchy is working toward a permanent solution under which the PBGC would assume McClatchy's qualified pension plan and continue to pay the company's pension plan participants their benefits.

The assets of the qualified pension plan are estimated at about $1.38 billion as of Dec. 31, 2019, including about $580 million of voluntary contributions made by McClatchy.

The company said it has been in active restructuring negotiations with substantially all of its secured lenders and bondholders, as well as the PBGC, to address the future of its pension obligations and capital structure. The negotiations contemplate one or more deleveraging transactions, including some or all of the company's second-lien term loans and third-lien notes, which are secured by second and third liens on substantially all of the company's assets.

To begin its restructuring, the company said it may be required to seek Chapter 11 protection.