McClatchy July Revenue Down 8.6%

Posted Monday, August 20, 2007 12:00 am

By: Newspaper publisher McClatchy Co. said Monday its revenue slid 8.6 percent in July due to a drop in national and classified ad sales.

Total advertising sales for the month declined 9.4 percent to $169.4 million from $186.9 million in the previous year.

The company, which owns 31 daily newspapers including The Miami Herald and The Sacramento Bee, said its national ad revenue dropped 19 percent while classified sagged 15.3 percent. The classified categories experiencing the most weakness were real estate, down 26 percent, and automotive off 19.7 percent.

For the year to date, pro forma revenue is down 7 percent while ad sales are off 7.9 percent. Pro forma results include newspapers purchased in the Knight Ridder acquisition and exclude the Minneapolis Star Tribune for the first six months of last year

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McClatchy July Revenue Down 8.6%

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