The bad news keeps coming for The McClatchy Company. Ad revenues for McClatchy dropped 8.4% over the comparable quarter last year.
9/19/2007 9:28:09 AM McClatchy Co. (MNI) on Wednesday disclosed revenue results for August 2007, reporting a 8.4% decline in total revenues to $169.45 million from $185.04 million in the comparable period last year.The company's total advertising revenues for the month declined 9.2% to $143.61 million from $158.19 million in the year earlier period.Looking ahead, the company expects little improvement in advertising trends before the fourth quarter of 2007 and expects fourth quarter revenues to be negative. However, the company said it is working hard to mitigate the impact of revenue declines by exerting strong cost discipline. The company said it is making progress on reducing debt in the third quarter and would continue to focus on de-levering our balance sheet.
How will The Bee present this devastating news?
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