McClatchy Reports Smaller Q4 Profit
Newspaper publisher McClatchy (MNI) reported net profits today of $15.8 million for the fourth quarter of 2010, down about 50 percent from Q4 2009’s earnings of $32.4 million.
Revenues were also down, though not as much: down 6 percent to $369.9 million. Both ad revenue and circulation fell in the quarter, though digital revs grew 5 percent to $51 million, now making up 17.8 percent of total ad revenues.
Other tidbits from the earnings report:
McClatchy spent $1.8
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