McClatchy

McClatchy Newspapers Reject Online Pay Walls

Lindsy Embree — Wed, 10 Feb 2010 10:08:23 -0500

Full article: MediaPost
David Goetzl
As debate percolates around newspapers charging for Web content, count on the Miami Herald and Kansas City Star sites to stay free. McClatchy Co. CEO Gary Pruitt said the company is "comfortable" with an ad-supported model without pay walls.

Bee Cheaper

Stevie Converse — Thu, 17 Dec 2009 09:33:06 -0500

Full article: Sacramento News & Review
Cosmo Garvin
The McClatchy Co. is making money, thanks to deep cutbacks and layoffs and a marginally improved economy. CEO Gary Pruitt boasted last week that all of the company’s daily newspapers are now profitable. But as Sacramento Bee begins a new round of labor negotiations with newsroom employees, management is proposing further cost cuts at the paper.

Ariel Says Newspapers Are Poised for a Year (At Least) of Profits

Lindsy Embree — Thu, 30 Jul 2009 10:04:08 -0400

Full article: paidContent
David Kaplan
While many observers argue that recent profit swings for Gannett, McClatchy and other newspaper publishers will be short lived, Ariel Investments CEO John Rogers Jr. is far more bullish. In fact, Rogers expects the newspapers to defy analysts' dour projections and post profits for the next five or six quarters.

McClatchy Net Rises on Cost Cuts

Lindsy Embree — Wed, 22 Jul 2009 09:21:14 -0400

Full article: Wall Street Journal
Shira Ovide
The McClatchy Company, owner of 30 daily newspapers, reported that its second-quarter profit more than doubled from a year earlier, as cost cuts helped counterbalance a steep loss of ad revenue. The results are an indication that newspaper advertising, while not healthy, at least isn't worsening substantially.

McClatchy Plans Debt Exchange at Big Discount

Stevie Converse — Thu, 21 May 2009 12:35:33 -0400

Full article: Wall Street Journal
Kevin Kingsbury
Debt-laden newspaper publisher McClatchy announced plans to exchange $1.15 billion in notes at a significant discount. McClatchy's woes predate the housing market collapse in Florida and California -- where it has a notable presence -- as the company went on a debt-fueled growth spurt at the top of the market, just before ad revenue turned south.

McClatchy Faces De-Listing by NYSE

Stevie Converse — Mon, 20 Apr 2009 08:21:34 -0400

Full article: Sacramento Bee
Dale Kasler
McClatchy, one of the nation's largest newspaper publishers, faces de-listing by the New York Stock Exchange. Its shares have fallen below the minimum required value of $1.00. Under the NYSE's rules, Sacramento-based McClatchy has 45 days to submit a plan to get back in compliance, and 18 months to execute the plan.

McClatchy Will Make $200 Million from Digital This Year

Stevie Converse — Wed, 08 Apr 2009 10:41:43 -0400

Full article: Reuters
Robert MacMillan
McClatchy Chief Executive Gary Pruitt said that 15 percent of the company's advertising revenue today comes from online. The nearly $200 million in digital revenue that McClatchy is generating would almost be enough to run the New York Times newsroom for a year.

Contrary to Rumor, McClatchy Not Dismantling D.C. Bureau

Stevie Converse — Mon, 06 Apr 2009 11:53:32 -0400

Full article: Editor & Publisher
Rumors have circulated that McClatchy may be severely downsizing or shuttering its much-respected Washington, D.C. bureau. But in a memo from Washington chief John Walcott to McClatchy editors, he denies the claims that the bureau will be closing.

Columbus Ledger-Enquirer Cuts Jobs for Third Time in Less than a Year

Lindsy Embree — Wed, 18 Mar 2009 10:14:03 -0400

Full article: Associated Press
The Columbus Ledger-Enquirer says it is eliminating 20 positions. It's the third time in less than a year the newspaper has cut its work force. The cuts are part of restructuring by parent company McClatchy Co.

News & Observer Cuts, Pay Reductions, Furloughs

Lindsy Embree — Tue, 17 Mar 2009 09:46:51 -0400

Full article: Associated Press
The News & Observer Publishing Co. says it will reduce pay for many employees, require furloughs and eliminate 11 percent of its work force, including 27 newsroom positions at its flagship newspaper in Raleigh. The media company is a subsidiary of the McClatchy Co.