What’s going on at McClatchy?

Seeking the meaning of Gary Pruitt’s sudden resignation from the family trusts that control McClatchy, the Wall Street Journal speculated that the move foreshadows an initiative to issue millions of new shares to pay off the company’s billions in debt.The Journal might be right. But I doubt it. Here’s why:MNI has $2.1 billion in debt. Its shares nowadays are trading at about $3.30 apiece (only 18