McClatchy said to be in "intensive care"

Research Recap:

McClatchy is arguably the best proxy for the industry, being a pure newspaper play, and as cash cows go, it’s in intensive care. As Goldman Sachs analyst Peter Appert writes: "McClatchy 3Q earnings showed a similar pattern to the previous few quarters: extreme and worsening top-line declines, only partially offset by continued Herculean cost efforts, translating into margin pressure and earnings declines.” Goldman kept its price target at $2.00.