By: E&P Staff McClatchy reported today that total revenue declined 1.6% in February compared to the same period last year and total advertising revenue dropped 0.8%. Year-to-date, total revenue was up 0.8% and ad revenue grew 2.1%.
In February and including online, retail advertising revenue declined 2%. National dropped 19.1%. Classified increased 3.7%. Within the classified category, employment was up 6%, real estate advanced 23.7% and auto fell 18.9%.
Year-to-date and including online, retail advertising declined 0.3%. National was down 1.6%. Classified was up 3.3%. Within the classified category, employment was up 4.8%, real estate rose 24.9% and auto fell 17.3%.
By region, California ad revenue was up 3.9% in February. Minneapolis was down 5.1%. The Carolinas declined 1.5%. The Northwest decreased 3.4%.
Circulation revenue slipped 5.4%. Average paid daily circulation in February was down 2% and Sunday circulation declined 4.3%.
On March 13, McClatchy announced it had acquired Knight Ridder. It plans to divest 12 of Knight Ridder's 32 daily papers. The deal is expected to close this summer. McClatchy's February results do not include Knight Ridder properties.
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