McClatchy Co. Reports Lower Third Quarter Earnings as Advertising Revenue Drops

By: Dale Kasler | The Sacramento Bee

The McClatchy Co. today reported a decline in third quarter earnings as a continued drop in advertising revenue offset better-than-expected results from the Sacramento newspaper chain’s digital initiatives.

McClatchy, which owns The Bee and 29 other papers, said third quarter earnings fell to $6.9 million, down from $8.8 million a year earlier, not counting one-time adjustments.