- Associated Press - Friday, February 12, 2016

RALEIGH, N.C. (AP) - The McClatchy company has contributed some of its real estate to its pension program, in a move to help fund the program and provide tax benefits.

The Sacramento, California, newspaper and information company said Friday it has contributed six properties worth $47 million.

The properties are located in Raleigh, Charlotte and Garner, as well as Gulfport, Mississippi; Doral, Florida; and Fresno, California.

McClatchy said it will lease back the property for 11 years and will pay a total rent of about $3.5 million annually.

The contribution will have no impact on day-to-day operations at newspapers in these locations.

McClatchy expects the real estate deal to cover its required contribution to the pension plan this year.

The company gets about a benefit of about $10 million on its 2015 tax returns.

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