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Friday September 5, 2008
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Friday September 5, 2008
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Released: 12/20/2007
SACRAMENTO, Calif., Dec. 20 -- The McClatchy Company (NYSE: MNI) today reported that both consolidated advertising and total revenues in November 2007 decreased 9.2%. Year-to-date advertising revenues declined 8.6% and total revenues were down 7.9% on a pro forma basis -- that is including the addition of newspapers purchased in the Knight Ridder acquisition on June 27, 2006 and excluding the Minneapolis Star Tribune newspaper which was sold on March 5, 2007.Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.
About McClatchy:
The McClatchy Company is the third largest newspaper company in the United States, with 31 daily newspapers, approximately 50 non-dailies and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which complement its newspapers and extend its audience reach in each market. Together with its newspapers and direct marketing products, these operations make McClatchy the leading local media company in each of its premium high growth markets. McClatchy-owned newspapers include The Miami Herald, The Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer.
McClatchy also has a portfolio of premium digital assets. Its leading local websites offer users information, comprehensive news, advertising, e-commerce and other services. The company owns and operates McClatchy Interactive, an interactive operation that provides websites with content, publishing tools and software development. McClatchy operates Real Cities (http://www.RealCities.com), the largest national advertising network of local news websites and owns 14.4% of CareerBuilder, the nation's largest online job site. McClatchy also owns 25.6% of Classified Ventures, a newspaper industry partnership that offers classified websites such as the nation's number two online auto website, cars.com, and the number two rental site, apartments.com. McClatchy is listed on the New York Stock Exchange under the symbol MNI.
Additional Information:
Statements in this press release regarding future financial and operating results, including revenues, operating expenses, cash flows, debt levels and the expected impairment charge related to goodwill and/or long-lived assets, as well as future opportunities for the company and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: McClatchy may not consummate contemplated transactions which may enable debt reduction on anticipated terms or at all; McClatchy may not achieve its expense reduction targets or may do harm to its operations in attempting to achieve such targets; McClatchy's operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; McClatchy's expense and income levels could be adversely affected by changes in the cost of newsprint and McClatchy's operations could be negatively affected by any deterioration in its labor relations, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the Company's Annual Report on Form 10-K for the year ended December 31, 2006, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release.
***The McClatchy Company*** Consolidated Statistical Report (In thousands, except for preprints)
November Combined Revenues -- Net: 2007 2006 % Change Advertising Retail $85,400 $87,594 -2.5% National 16,310 17,535 -7.0% Classified Total 45,673 57,276 -20.3% Automotive 12,644 14,777 -14.4% Real Estate 12,256 17,709 -30.8% Employment 13,829 18,378 -24.8% Other Class 6,944 6,412 8.3% Direct Marketing 14,675 16,233 -9.6% Other Adv Rev 187 49 281.6% Total Advertising $162,245 $178,687 -9.2%
Circulation 21,108 22,447 -6.0% Other 5,587 7,017 -20.4% Total Revenues $188,940 $208,151 -9.2%
Memo: Online Only Advertising Revenue $12,630 $13,175 -4.1%
Advertising Revenues by Market: California $29,416 $35,107 -16.2% Florida 26,546 29,854 -11.1% Texas 16,382 18,238 -10.2% Southeast 42,448 44,391 -4.4% Midwest 23,073 24,894 -7.3% Northwest 17,488 19,506 -10.3% Other 6,892 6,697 2.9% Total Advertising $162,245 $178,687 -9.2%
November Print Only Revenues -- Net: 2007 2006 % Change Advertising Retail $82,936 $85,860 -3.4% National 15,384 15,920 -3.4% Classified Total 36,433 47,449 -23.2% Automotive 10,370 12,964 -20.0% Real Estate 11,099 16,480 -32.7% Employment 8,568 11,992 -28.6% Other Class 6,396 6,013 6.4% Direct Marketing 14,675 16,233 -9.6% Other Adv Rev 187 50 274.0% Total Advertising $149,615 $165,512 -9.6%
Advertising Revenues by Market: California $27,503 $33,254 -17.3% Florida 24,952 27,953 -10.7% Texas 15,265 17,201 -11.3% Southeast 38,651 40,742 -5.1% Midwest 21,021 22,793 -7.8% Northwest 15,876 17,995 -11.8% Other 6,347 5,574 13.9% Total Advertising $149,615 $165,512 -9.6%
Advertising Statistics for Dailies: Full Run ROP Linage 2,568.7 3,109.5 -17.4%
Millions of Preprints Distributed 728.9 754.7 -3.4%
Average Paid Circulation:* Daily 2,782.0 2,886.7 -3.6% Sunday 3,377.5 3,497.5 -3.4%
* Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.
***The McClatchy Company*** Consolidated Statistical Report (In thousands, except for preprints)
November Year-to-Date Combined Revenues -- Net: *Pro Forma As Reported 2007 2006 % Change 2006 Advertising Retail $794,201 $817,448 -2.8% $525,279 National 167,300 186,162 -10.1% 114,148 Classified Total 658,909 775,222 -15.0% 498,748 Automotive 155,739 185,064 -15.8% 119,852 Real Estate 188,792 240,854 -21.6% 164,528 Employment 229,740 267,798 -14.2% 164,804 Other Class 84,638 81,506 3.8% 49,564 Direct Marketing 143,841 151,975 -5.4% 97,519 Other Adv Rev 1,913 1,434 33.4% 1,422 Total Advertising $1,766,164 $1,932,241 -8.6% $1,237,116
Circulation 256,911 268,615 -4.4% 168,211 Other 66,974 68,735 -2.6% 41,998 Total Revenues $2,090,049 $2,269,591 -7.9% $1,447,325
Memo: Online Only Advertising Revenue $152,751 $152,207 0.4% $91,505
Advertising Revenues by Market: California $336,808 $396,895 -15.1% $383,446 Florida 275,247 328,086 -16.1% 142,675 Texas 182,124 196,639 -7.4% 89,489 Southeast 452,769 466,467 -2.9% 297,438 Midwest 245,144 261,381 -6.2% 120,542 Northwest 201,776 209,885 -3.9% 168,217 Other 72,296 72,888 -0.8% 35,309 Total Advertising $1,766,164 $1,932,241 -8.6% $1,237,116
Advertising Statistics for Dailies: Full Run ROP Linage 21,325.8
Millions of Preprints Distributed 4,250.4
November Year-to-Date Print Only Revenues -- Net: *Pro Forma 2007 2006 % Change Advertising Retail $770,792 $802,241 -3.9% National 160,003 172,762 -7.4% Classified Total 536,864 651,622 -17.6% Automotive 133,002 165,731 -19.7% Real Estate 174,990 226,174 -22.6% Employment 150,303 183,672 -18.2% Other Class 78,569 76,045 3.3% Direct Marketing 143,841 151,975 -5.4% Other Adv Rev 1,913 1,434 33.4% Total Advertising $1,613,413 $1,780,034 -9.4%
Advertising Revenues by Market: California $313,027 $374,148 -16.3% Florida 255,798 305,414 -16.2% Texas 169,149 183,548 -7.8% Southeast 406,879 424,262 -4.1% Midwest 221,882 237,568 -6.6% Northwest 181,471 193,026 -6.0% Other 65,207 62,068 5.1% Total Advertising $1,613,413 $1,780,034 -9.4%
Advertising Statistics for Dailies: Full Run ROP Linage 30,218.6 33,896.8 -10.9%
Millions of Preprints Distributed 6,332.2 6,615.7 -4.3%
Average Paid Circulation:** Daily 2,740.6 2,840.1 -3.5% Sunday 3,380.1 3,517.8 -3.9%
* Pro Forma includes Knight Ridder acquisitions and excludes (Minneapolis) Star Tribune newspaper. ** Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.
SOURCE The McClatchy Company
The McClatchy Company