Weak Results From McClatchy, Better From RBI
Two earnings reports today that couldn’t be more different: while McClatchy Co. (MNI) reported bleak results, Reed Elsevier’s report could have been worse. Really.
Reed Elsevier, which owns Variety and a number of construction-related properties in the U.S., saw revenue in its Reed Business Information segment fall 8 percent but profits rise 32 percent thanks to “cost actions taken to streamline the business while the business returned to growth” (ahem). And since RBI spent most of 2010 cutting
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