Acquisitive Sacramento, Calif.-based newspaper chain McClatchy Co. posted Tuesday a quarterly loss blaming it on the sale of its largest daily, The Minneapolis Star Tribune. The company said its fourth-quarter net loss totaled $279.3 million, or $3.41 per share, compared with a net profit of $45.4 million, or 97 cents per share a year ago. Despite the loss,
revenue more than tripled to $673.6 million from $210.3 million a year
ago thanks to the acquisition of 20 newspapers from Knight Ridder
Inc. If the $354.8 million charge associated with the Star Tribune selloff were
excluded, McClatchy's earnings would have been $75.5 million or 92 cents per share. —Matthew Wurtzel
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