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News Tribune parent company reports first quarter results

Post by John Gillie / The News Tribune on April 26, 2013 at 12:07 pm with No Comments »
April 26, 2013 12:14 pm

The McClatchy Co., the California-based parent company of The News Tribune and The Olympian, this week reported first quarter losses of $12.7 million or 15 cents a share.

logo_mcclatchy_300Part of those losses were driven by $8.1 million in losses related to debt refinancing and debt repurchases, the company said. Other factors included in the first-quarter results included $1.3 million after-tax losses incurred in relocating the company’s Miami newspaper operations and $1.4 million in severance payment after-tax losses.

Those results compared with 2012 first quarter losses of $2.1 million or two cents a share.

Total revenues in the first quarter were $276.7 million. That’s down four percent from the same quarter last year.  Digital-only advertising revenues were up 8.9 percent in the first three months of 2013, and circulation revenue was up 1.6 percent for that period.

McClatchy is the nation’s third largest newspaper publisher based on daily circulation.  Among its properties are the Bellingham Herald and Tri-City Herald in Washington and the Miami Herald, Fort Worth Star-Telegram, Sacramento Beel and the Kansas City Star.  The chain owns 30 daily newspapers in 29 markets.

 

 

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