As bad as 2008 has been for McClatchy, Marek Fuchs at TheStreet.com says 2009 will be worse. His reason: The 2008 election and the Olympics have created a demand for news this year that will not exist in 2009. Watch the podcast here.
Special bonus: Fuchs doesn't think much of CEO Pruitt and the Knight-Ridder purchase -- he calls it "one of the worst purchases in media history."
1 comment:
Pruitt has an EGO problem. Seems he wanted to take McClatchy to the top and it backfired. Now they can't even buy the Stockton Record (I think he wanted to wrap up the whole central valley). Instead of taking it to the top we get to ride ski slope down to the bottom of the NYSE hill. I think McClatchy's big news story next year will read something like this.
"McClatchy Files Chapter 11."
Of course you will see that story on D-3 buried with their layoff stories.
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