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McClatchy lost $849,000, or a penny a share, in Q1 compared to the same quarter last year, due to the weak economy and a continuing loss of advertising to the internet.
Revenue for the company slipped 13.8 percent to $488.3 million; advertising revenue fell 15.3 percent, to $404 million. California and Florida continued to be challenging areas for the company, where real estate advertising took sharp hits. While those markets account for only a third of the company’s revenue, they accounted for 56 percent of the first quarter’s decline, said CEO Gary Pruitt in a statement (via Yahoo).
Second quarter results are expected to be slightly better than the first quarter, though still down in the low to mid-teen percentage range, Pruitt said.
Online ad revenue was up 10.6 percent to $45.6 million. Online now makes up 11.3 percent of McClatchy’s total ad revenues, compared to just 8.6 percent in 2007.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
