Ads downs 25pc at US publisher

THE SECOND largest American newspaper publisher, McClatchy, has reported advertising revenue has fallen by a quarter, contributing significantly to a US$37.5 million loss in the first 12 weeks of this year.

This compares with a loss of US$800,000 for the corresponding period last year.

This latest loss represents 45c loss per share.

A one-time charge taken for redundancy actions was a major contributor to its dramatic first 12 weeks of the year. If these charges were taken out, the loss represented closer to 11c per share.

McClatchy publishes a number of metropolitan and regional newspapers in the US, including the Miami Herald.

In 2006, it bought 20 daily newspapers from Knight Ridder, plus many non-dailys.

Currently, it owns 30 daily newspapers in 29 cities around America.


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