Thursday, April 23, 2009

McClatchy posts quarterly loss on falling ad sales

U.S. newspaper publisher McClatchy Co (MNI.N) reported a quarterly loss on Thursday because of layoff charges and falling advertising revenue.

McClatchy, which publishes newspapers such as The Miami Herald and The Sacramento Bee, posted a first-quarter net loss of $37.5 million, or 45 cents a share, compared with a net loss of $849,000, or 1 cent a share, a year earlier.

Revenue fell 25 percent to $365.6 million.


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