McClatchy Co., the organization behind Raleigh’s own News & Observer, released a statement saying they filed for bankruptcy on Thursday, ending family control of America’s second largest local news company.
The release said more than 7 million shares of both publicly available and protected family-owned stock would be canceled.
This newspaper’s reign of propaganda was the cause of their downfall. The people in Raleigh call this rag The News & Disturber. Here is some of this paper’s history:
In 1894 the paper was sold at auction, this time to a Washington, North Carolina native who was a strong Democratic supporter. Josephus Daniels, with help from Julian S. Carr and other friends, bought the paper. Quickly Daniels refocused the News and Observer to combat rampant corruption and other problems he saw within the state. Put differently by Daniels himself, “The News and Observer was relied upon to carry the Democratic message and to be the militant voice of White Supremacy, and it did not fail in what was expected, sometimes going to extremes in its partisanship.” Daniels believed that “the greatest folly and crime” in U.S. history was granting blacks the right to vote.
In the findings of the Wilmington Race Riot Commission, Daniels is the only name mentioned as a cause of the Wilmington insurrection of 1898, According to historian Helen Edmonds, the paper “led in a campaign of prejudice, bitterness, vilification, misrepresentation, and exaggeration to influence the emotions of the whites against the Negro.” The result was the only successful coup d’état in American history, the overthrow of an elected government by force.
If you are not familiar with the Wilmington insurrection, prepare to be shocked. You will not see a better example of a wretched hive of scum and villainy outside of Star Wars.
Another fake news outlet falls.