McClatchy Vows to Cut Expenses in '09
The McClatchy Co. Thursday reported a fourth-quarter net loss from continuing operations of $20.4 million, or 25 cents per share, that includes a pre-tax non-cash impairment charge of $59.6 million on the value of its newspapers.
McClatchy’s Q4 report offered no hope that the bleeding has stopped in advertising revenue, which was down 12.7 percent — but plummeted in key classified categories.
Help-wanted classified revenue was down an astonishing 50.7 percent. Real estate classified plunged 40.7
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