More bad news for McClatchy. One of their largest department store advertisers, Gottschalks, filed bankruptcy today. This company has stores in California and Washington, and many MNI papers carried their ROP and inserts. Just when it looks like things couldn't get any worse, more bad news surfaces. Potential revenue loss to MNI is well over $2,000,000 on an annualized basis, based on external estimates.Gottschalks is a major advertiser in the Sacramento Bee, Modesto Bee, Merced Sun Star, and the Fresno Bee. Also the Anchorage Daily News. Read the report from the Wall Street Journal here.
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10 comments:
They're in Alaska, too:
http://www.adn.com/money/story/653523.html
Jim62sch -- thanks.
Ya talk down and economy long enough....and.....well.. see what cha...done!
It's that Karma thing don't you know.
Bad news for McCrappy. Anybody know when McCrappy will announced it's fourth quarter "earnings." Should be today or tomorrow??? That should bring on some major announcements.
Before the election the Democrats were full of doom and gloom they wanted everyone to believe, so now everyone believes it, and they better fix it like they promised.
It was only several years ago, that Gottschalks amounted to about 30 percent of The Fresno Bee's ROP linage. Gotts and rival Macy's used to have advertising battles, to the Bee's benefit.
Those days are gone for good.
It's ironic that the business model of the mid-priced department store, that last stalwart of the big contract ROP, is dying like Newspapers.
It reflects that the changes to business models are rapid and wide spread.
Jim62sch,
I linked to the article, and the comments section is mostly critical of the ADN. Was it always such a pathetic rag?
Proving readers are often smarter than reporters, I noticed this comment after the ADN article:
In another instance of ADN's customary rigorous and painstaking research process before going to press with any article, they failed to research the facts of their story. In a few seconds I was able to determine not only the number of Gottschalks stores in Alaska (it is five - they missed the one in Juneau) but also their addresses and telephone numbers. Why can't ADN be as diligent in their reporting? Hmmm.
I love to see McClatchy papers losing revenue - especially the Anchorage Daily News.
Sarah rocks!!!
Regular Alaskans are getting sick of the ADN - the comments sections in that newspaper has become home to every Palin Derangement Syndrome sufferer in the world.
They get drowned out in the Palin articles (or they have just given up) but their attitude leaks through in articles where the PDS people don't make an appearance.
The ADN has alienated Alaskans in an attempt to become the Sarah Palin Tabloid Paper of Record.
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