. Its bonds staged an improbable rally last year, charting a steady climb over 50 percent from 80 to 125 cents on the dollar. Pressure has been building. This much is sure: Chatham founder Melchiorre, 51, has a formidable reputation. It was a lucrative move. The private equity fund Fortress Investment Group controls the largest American newspaper chain, Gannett, which publishes USA Today, The Arizona Republic and 250 other dailies. Fortress is owned by the Japanese conglomerate SoftBank. McClatchy, the publisher of The Miami Herald, The Kansas City Star, The Charlotte Observer and its flagship publication, The Sacramento Bee, filed for Chapter 11 bankruptcy protection in February. Since Chatham Asset Management took over Postmedia, Canadas largest newspaper chain, 1,600 employees have been laid off and more than 30 papers shut down. I have no regrets whatsoever about going with the monthly pension. After years of declines in revenue and print circulation, the McClatchy Company, one of the largest and most respected news publishers in the country, announced on Sunday that it expected to be bought by Chatham Asset Management, a New Jersey hedge fund, at the conclusion of a bankruptcy auction. Under Republican governors, the two states committed at least $625 million of pension cash into Chatham Asset Management, a high-risk hedge fund that has taken control of theNational Enquirers parent company, American Media Inc., which is at the center of the federal investigation into President Donald Trumps 2016 campaign. Chatham has been restructuring their debt to give them more time. Behind the salacious headlines was an issue thats drawing scrutiny from regulators: bond prices. You know a little about ledes (leads) yourself. Chatham Asset Management is a hedge fund with 13 clients and discretionary assets under management (AUM) of $8,608,297,054 (Form ADV from 2022-03-30). Anthony Melchiorre has an ownership stake in Chatham Asset Management, LLC of between 50% and 75%. Apr 3, 2023. As part of it, Postmedia traded 17 of its papers to Torstar in exchange for 24 Torstar papers. His behavior infuriated some senior executives, according to former colleagues. After he departed amid a round of layoffs, Melchiorre quit Manhattan to join the Jersey Boys, a clique of hedge funders across the Hudson River that included billionaires Cooperman and David Tepper.
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