The Sacramento, Calif.-based media company said its 49.5 percent stake in the Times has a carrying value of $12.06 million, down 38 percent from the value McClatchy calculated last December, according to a Securities and Exchange Commission filing Friday.
The write-down Friday follows series of similar moves in the past 18 months.
McClatchy had valued its interest in The Seattle Times Co. at $102.2 million at the end of 2006 and $89.9 million last June. In December, McClatchy dropped its estimated value of this investment to $19.3 million.
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