Tuesday, April 26, 2011

McClatchy Fails To Escape Downward Industry Trends

While the advertising recovery continues to hold on despite remaining economic weakness, the newspaper industry appears to be in danger of falling further beyond even after reducing years-long declines in 2010. Following the recent difficulties seen in Q1 earnings from newspaper publishing peers Gannett (NYSE: GCI) and the New York Times Company (NYSE: NYT) last week, The McClatchy Company (NYSE: MNI) posted falling revenue and a significant loss as digital advertising grew a meager 2.2 percent.

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