...where are those grave diggers the McClathcy newspaper chain lamented as underemployed due to the success of the surge? I think they'd be perfect to shovel dirt over the news agency's coffin.
AP story here:
The McClatchy Co., whose newspapers include The Miami Herald and El Nuevo Herald, said second-quarter earnings fell 44 percent as ad revenue continued to shrink.
Net income slid to $19.7 million, or 24 cents per share, from $35.2 million, or 43 cents per share, a year ago.
The result adjusted to exclude one-time items is $17.3 million, or 21 cents per share. That is equal to the average estimate of analysts surveyed by Thomson Financial.
Revenue dropped 16 percent to $489.7 million, as advertising sales shrank 17 percent.
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I just knew there was good
July 24, 2008 - 17:45 ET by ConservativeRexI just knew there was good economic news on the horizon. Thanks for making my day!
It's the Economy?
July 24, 2008 - 19:39 ET by xyzzypoofsWhat was really amusing was where the AP article relayed that the newspapers are blaming it on the economy and not the fact that people are getting sick of reading their liberal slime and slander:
"McClatchy Co., whose papers include The Miami Herald and The Sacramento
Bee, said Thursday the market for ad spending will not improve until
the current economic slump abates.
"Whether revenues improve from recent trends depends upon the
direction of the overall economy," Chairman and Chief Executive Gary
Pruitt said in a statement."
MSM bailout
July 24, 2008 - 19:52 ET by nkviking75Do you suppose the Dems will try to pass a bill to bail out failing MSM outlets? ;-) Let's hope Bush will veto it.
When you put the clowns in charge, don't be surprised when a circus breaks out.
Soon this newspaper will be competing with the free weekly rags
July 24, 2008 - 19:55 ET by upcountrywaterLMAO, Please take this paper it's free...
Betcha they can even give it away for free, every single day, i hope they try.
Liberals62%
IranianUranium
30 years ago
July 24, 2008 - 21:12 ET by iveseenitallMy wife and I have been waiting for this since we dropped our subscription to Newsday in New York more than 30 years ago. They were as biased then as they are now, but we never thought we'd see the day when the lying "liberals" would get their due. HOOORAAAY!
NEVER,NEVER trust a "liberal"
I gave up the Dallas Morning News
July 24, 2008 - 21:52 ET by jefflebowskibecause they were so blatantly left wing. My blood pressure would rise after reading a page or two. All they cover here is stories on minorities and poor illegal immigrants. They forgot about us white people who actually bought the paper. I haven't looked back.
Jeff Lebowski
www.angrywhitedude.c...
McClatcy's earnings
July 25, 2008 - 08:49 ET by loncgThey also own the Columbus, Ga LEDGER-ENQUIRER. The content of the paper has been cut drastically in their cost cutting efforts. I would not be surprised if they went to a weekly.
They represent the opinions of the minority and these people do not even subscribe. The publisher is an African-American and I feel confident they will endorse Obama. This will cost them a large number of paying subscribers and cause a further decline in revenues.
So at what point do we have
July 25, 2008 - 08:59 ET by dscottSo at what point do we have a buying opportunity to take over the paper and change the business model??? The Strib is in even worse shape, I sense a buying opportunity: http://newsosaur.blogspot.com/2008/07/perilously-funded-papers-hit-wall.html
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.