McClatchy Publishing Company Posts $37.5M Loss

Fresno, CA New this morning, publisher McClatchy Company is reporting a $37.5 million dollar loss and a 25 percent decline in revenue for the first quarter, as the recession hit advertising revenues both for newspapers and web sites.

The loss is larger than expected. McClatchy said its loss amounted to 45 cents per share. That's much larger than its loss of $849,000, or 1 cent per share, a year ago.

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