P.M. BRIEFING : Times Mirror Buys Into McClatchy
<i> From Times wire service</i> s
Times Mirror Co. said today that it has bought 7% of the Class A common stock of McClatchy Newspapers, which publishes 12 dailies in California, Washington and Alaska, including the Sacramento Bee, Fresno Bee and Modesto Bee.
In a filing with the Securities and Exchange Commission, Los Angeles-based Times Mirror, which owns The Times and other media properties, said it acquired the 293,900 McClatchy shares for investment purposes. The McClatchy family continues to control the Sacramento company through ownership of all Class B shares.