By: E&P Staff The McClatchy Co. reported Thursday that its total revenuesand advertising revenue in November both fell 9.2%, propelled by big fall-offs in classified sales, including a 30.8% plunge in the real estate category.
Year-to-date, McClatchy said, ad revenue is down 8.6% from 2006, and pro-forma total revenues are down 7.9%.
Sacramento, Calif.-based McClatchy has been hammered by the housing contraction in Florida and California, where it has several big papers including The Miami Herald.
McClatchy said its advertising revenues in California fell 16.2%, while its Florida papers took in 11.1% less than in November 2006. The chain had double-digit ad revenue declines in Texas (down 10.2%); and the Pacific Northwest (down 10.3%).
Chain-wide, Help-wanted classifieds also shrank during November, down 24.8% from the year-ago period. Automotive was also down big, falling 14.4%.
McClatchy said its retail advertising revenue declined 2.5% for the month.
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