The management of the McClatchy Company continues to do whatever it takes to navigate through the recession. The third-largest U.S. newspaper company reported net operating income of $23.6 million in Q-3, up dramatically from $4.2 million for the same period a year earlier. This, despite a 23.1...
Question-and-Answer Session Operator Operator Instructions The first question comes from the line of Craig Huber - Barclays Capital. Craig Huber - Barclays Capital A multi-part question. I asked this last quarter as well. Could you speak if you would about the advertising rate declines you saw...
The McClatchy Company is back in compliance with New York Stock Exchange NYSE standards for continuing listing of its stock price. Since being notified by the NYSE in February that it no longer qualified for listing, the nation's third-largest newspaper company has been restructuring and repositioning itself...
It's not easy to admit you're wrong. I don't typically keep up with "new technology." In fact I've often been accused of living in the past. So when I found out about Twitter -- a year after it went mainstream -- I made a snap judgment regarding its purpose and intended use (and therefore its relative value or detriment to society).I was wrong. As I said unequivocally at the time "Twitter will be remembered as the peak of the social networking bubble." My reasoning which I still cling to in part was that Americans communicate far in excess of what is useful. ...
According to a recent report published by the Audit Bureau of Circulations, weekday newspaper circulation fell 11% and Sunday circulation 8% over the year. The San Francisco Chronicle was the worst hit newspaper, with circulation falling 26%, followed by USA Today’s 17% drop. Many analysts believe...
Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate.
The New York Times quarterly earnings of 16 cents a share surpassed the Zacks Consensus Estimate of 2 cents, and the prior-year quarter earnings of 5 cents. The better-than-expected results [...]
The New York Times Co. (NYT) announced another round of cuts in its headcount amid the secular and cyclical slowdown in print advertising. The company plans to trim newsroom staff by 8% or nearly 100 jobs by the end of the year through buyouts or layoffs.
Previously in 2008, the company had eliminated 100 newsroom jobs. [...]
Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S., recently reported third-quarter 2009 results. Despite a faltering economy and decline in print advertising revenue, the company’s earnings topped expectations, buoyed by effective cost-cutting measures, lower newsprint expense, reduction in headcount and pay cuts. Operating expenses dropped 14.4% to $1,179.6 million.
Gannett’s quarterly earnings of [...]
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