Another McClatchy creditor, the New York hedge fund Brigade Capital Management, was named in a public filing as a partner of Chatham in the April bid. The average price per square meter is $528/sqft. Named after the leafy suburb where its based, Chatham has posted average annual returns of about 10%, trouncing many of its competitors. (Bloomberg) -- The threat was blunt: Back off, or there will be trouble. 11 Beds 11 Baths 5382 sqft. There, they tried to prevent him from pursuing a lawsuit accusing Chatham-backed iPayment and its board member Pecker of ousting him unfairly. SEC Charges Chatham Asset Management and Founder Anthony Melchiorre for There are 8 other people named Anthony Melchiorre on AllPeople. Chatham and Melchiorre agreed to pay more than $19.3 million in combined disgorgement, prejudgment interest, and civil penalties to settle the charges. Like Warren Buffett, Wall Street traders and just about everyone else, Chatham has no illusions about where the newspaper industry is headed; it just wants to bleed them of cash, or, perhaps, sell them at a nice profit to another chain. Seaport Global defended its practices. This much is sure: Chatham founder Melchiorre, 51, has a formidable reputation. Download 13F Summary The number of journalists at its Vancouver papers the Vancouver Sun and The Province has been cut in half, according to Mr. Gibson. Chatham said at the time that the allegations were baseless and without merit. Postmedia is under investigation by Canadian regulators over a deal with a rival publisher, Torstar, the owner of The Toronto Star, that resulted in the closing of 36 newspapers and the loss of nearly 300 jobs. This website uses cookies to improve your experience while you navigate through the website. His behavior infuriated some senior executives, according to former colleagues. In all, the two companies closed 36 of the 41 newspapers that were part of the unusual deal, resulting in 291 job losses. Chatham is a hedge fund, and, like most hedge funds, it is interested in just one thing: Big bucks. The SEC would like to thank the Financial Industry Regulatory Authority for its assistance with this matter. He built his stature as a temperamental money-maker at the white-shoe firm. Thats just not how bond math works, said Michael Terwilliger, a portfolio manager at Resource Credit Income Fund. In the same period, it spent nearly $127 million on debt payments. These cookies do not store any personal information. Anthony Melchiorre - Chatham Asset Management, Chatham Borough, New Jersey In that same period, the editorial ranks at The National Post, its flagship paper, have been reduced by about a third, according to three of the people. Get our free e-alerts & breaking news notifications! They wanted to kill a lawsuit by the former head of another Chatham company. They make money for their clients.. But Melchiorre? Fortress is owned by the Japanese conglomerate SoftBank. The family-owned publisher of The Sacramento Bee and The Miami Herald announced the winner of its bankruptcy sale: Chatham Asset Management, the owner of The National Enquirer. American Media acquired her story for $150,000 and never published it, a practice known as catch-and-kill. For the low-profile Chatham, American Media has become a high-profile headache. House in Cabris, Provence-Alpes-Cte d'Azur, France. Were not even covering some City Hall things, which we miss., Postmedia said in a statement that it did not share specific numbers on staffing. Hedge Fund Chatham Settles SEC Case on Improper Bond Trading (1) Playing tough is the Chatham way. Yet its recent focus on tough-to-trade investments has given some clients pause, and initially drove off investors such as the Ohio state pension fund. Washington D.C., April 3, 2023 . At least five other traders whove looked at the bonds say their prices seem too good to be true. But just on the outside chance he does come around, would somebody please take his picture and send it to me? That may worry McClatchy journalists, who are wondering how Chatham would run the business at a time when Google and Facebook dominate the online ad market and fewer readers are willing to pay for news, challenges that have been worsened by the coronavirus pandemic. Chatham Asset Management's Role in Tabloid-Worthy Stories - Fortune In the last two fiscal years that ended in August, Postmedia booked losses totaling about $40 million in Canadian dollars. The firm and its founder, Anthony Melchiorre, have a reputation for hard-edged business. They give us a lowdown on how much money were losing and the need for cost cutting, but then they go and give these big bonuses. The company did not immediately return NJBIZs request for comment about Chathams letter of interest. Chatham Asset Management provides investment advisory services. The company that is poised to take control of McClatchy and its 29 daily papers doesnt have a website. to see more advanced email alert options such as selecting any type of This much is sure: Chatham founder Melchiorre, 51, has a formidable reputation. Altogether, the company has cut over 1,600 employees since 2016, or 38 percent of its staff, based on company filings. The hedge fundfinalized its dealto buy an ownership stake in AMI in the summer of 2014. Hedge Fund They stay away from editorial matters but tend to focus on finding efficient ways to cut costs, according to two of the people. SEC Charges Chatham Asset Management and Founder Anthony Melchiorre for We have less boots on the ground, Mr. Gibson said. Vericast recently announced several growth initiatives, including investing in technology and hiring for more than 250 new positions across the organizationits largest investments in innovation and employees since the companys 2020 launch. A Chicago-area kid who studied economics at Northwestern and got an MBA from the University of Chicago, his high-toned education didnt reduce the intensity of the former high-school football star. The hedge fund is run by Anthony Melchiorre, a GOP donor whoreportedlymetwith the president and AMI CEO David Pecker at the White House soon after Trump took office. the MV of securities sold, whichever is less, CHATHAM ASSET MANAGEMENT, LLC Top 13F Holdings - WhaleWisdom.com And your word synedoche drove me to the online dictionary. The investigation was supervised by Sheldon Pollock. Necessary cookies are absolutely essential for the website to function properly. That made it one of the best performing bonds in the world at the time. The fund, Chatham Asset Management, acquired two-thirds of Postmedia, the publisher of The National Post, The Vancouver Sun and several other major Canadian papers, by trading a portion of the money it was owed for the majority ownership stake. Hedge fund manager Chatham Asset Management and founder Anthony Melchiorre agreed to pay $19.4 million to settle Securities and Exchange Commission charges that the firm improperly traded. Chatham Asset Management to Pay $19.3M to Settle SEC Charges. Two other old-line media investments, Postmedia Network Canada Corp. and McClatchy Co., have become central to Chatham and its thesis that itll make money in an industry others are fleeing. Whalewisdom has at least 9 13F filings, 19 13D filings, 29 13G filings, and 127 Form 4 filings Summary Holdings Ind. Chatham and the Enquirers publisher, David Pecker, had turned to Trumps fixer as a mediator. He set up his hedge fund in Chatham, N.J., in 2002. Recent cases brought by the regulator show its trying to ensure that investors have a full and fair understanding of how instruments in the market are being priced..