Judge: I'm Not Inclined To Block McClatchy's Bay Area Deal

JUDGE: I'M NOT INCLINED TO BLOCK MCCLATCHY'S BAY AREA DEAL
[SOURCE: Editor&Publisher]
While making no ruling on an emergency request to block the sale of three McClatchy Co. San Francisco Bay Area dailies, a federal judge suggested at a Thursday hearing that she's likely to deny Clint Reilly's request for a temporary injunction against it. "I don't see that there is imminent irreparable harm," U.S. District Court Judge Susan Illston said. In court filings opposing the injunction, McClatchy noted that it had borrowed more than $3 billion to acquire Knight Ridder and needed to sell off some of the papers to draw down debt. The $1 billion the chain will get from the sale of the Bay Area papers is 'important to the company's financial health," McClatchy said in a filing.
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