November was another horrible month for newspaper chain McClatchy (MNI). The company said that both consolidated advertising and total revenues in November 2007 decreased 9.2%.
Real estate classified revenue was down 31% for the month and employment classified by almost 25%.
Revenue in the company’s California papers fell 16%.
Only ad revenue is going nowhere. It dropped 4%.
McClatchy shares are off 70% this year, and that is likely to get worse.
Douglas A. McIntyre
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