The McClatchy CompanyNYSE
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  • Thu, Oct. 20, 9:57 AM
    • Publisher McClatchy (NYSE:MNI) is up 2.1% after posting Q3 earnings where it beat revenue expectations (one estimate) despite a Y/Y decline.
    • Total advertising revenues fell 11.1% vs. the overall revenue decline of 6.6%, due to softness in traditional print ads and direct marketing.
    • Digital-only ad revenues were up 15.2%, and total digital ad revenues grew 4.9%. Audience revenues grew 1.9% to $91M.
    • Total unique visitors to online products grew to 60.2M (43.3% growth) and local unique visitors rose 15.6% to 14.4M.
    • It reaffirmed previous full-year guidance, for digital-only ad revenue growing at double digits, and "the declining trends in direct marketing and print advertising are not anticipated to subside in the fourth quarter." Audience revenues are expected to be flat for 2016, and adjusted operating expenses should decline in Q4.
    • Conference call to come at noon ET.
    • Press Release
    | Thu, Oct. 20, 9:57 AM
  • Thu, Oct. 20, 9:04 AM
    • McClatchy (NYSE:MNI): Q3 Adjusted net loss of $2.14M.
    • Revenue of $234.7M (-6.6% Y/Y) beats by $4.78M.
    • Press Release
    | Thu, Oct. 20, 9:04 AM
  • Wed, Oct. 19, 5:30 PM
    | Wed, Oct. 19, 5:30 PM | 1 Comment
  • Tue, Sep. 6, 12:30 PM
    • Pre-hire job site CareerBuilder is moving into post-hire software and services by acquiring Workterra, which addresses employee lifecycles including benefits and talent management.
    • CareerBuilder -- owned by McClatchy (NYSE:MNI), Tegna (NYSE:TGNA) and Tribune Media (NYSE:TRCO) -- had officially introduced its pre-hire platform last year, offering companies the chance to buy its entire system to take pieces a la carte.
    • The combination of the two firms is now focused primarily on its mid-size market, which it estimates at $18.1B.
    | Tue, Sep. 6, 12:30 PM
  • Thu, Jul. 21, 9:04 AM
    • McClatchy (NYSE:MNI): Q2 EPS of -$1.89
    • Revenue of $242.23M (-7.7% Y/Y)
    • Press Release
    | Thu, Jul. 21, 9:04 AM
  • Wed, Jul. 20, 5:30 PM
    | Wed, Jul. 20, 5:30 PM | 13 Comments
  • Mon, Jun. 20, 12:44 PM
    | Mon, Jun. 20, 12:44 PM | 5 Comments
  • Thu, May 19, 10:50 AM
    • After receiving a couple of listing warnings on price this year from the NYSE, McClatchy (MNI -0.4%) will execute a 1-for-10 reverse stock split.
    • Shares closed Wednesday at $1.14, a bit close to $1, but should be more like $11.40 after the split, which is set to be effective as of the start of trading June 7.
    • Post-split, outstanding class A shares would come to about 5.3M, and 2.4M Class B shares, while market cap would stick around $88.6M.
    • The company also increased its share repurchase authorization to $20M through the end of the year. The prior authorization was $15M and the company had $1.9M available under that program.
    | Thu, May 19, 10:50 AM
  • Wed, Apr. 20, 10:12 AM
    • Publisher McClatchy (NYSE:MNI) has slipped 1.6% as Q1 earnings missed, reversing some gains it had made in Q4.
    • A net loss (adjusted) of $7.9M was a 9.8% Y/Y improvement, and a shift in revenues to a digital mix continued to show progress.
    • Advertising revenues fell 9.9% Y/Y. Digital-only ad revenues were up 18%, though, and total digital ad revenues grew 4.1%. Audience revenues were down 2.7% to $90.7M.
    • Total unique visitors hit 52M and local unique visitors reached 14M on average.
    • It's guiding to double-digit growth in digital-only ad revenues for Q2 and the rest of 2016, and it doesn't expect "declining trends" in direct marketing and print advertising to subside in the next few quarters.
    • Conference call to come at noon ET.
    | Wed, Apr. 20, 10:12 AM
  • Wed, Apr. 20, 9:14 AM
    • McClatchy (NYSE:MNI): Q1 EPS of -$0.16 misses by $0.01.
    • Revenue of $237.98M (-7.5% Y/Y) misses by $3.81M.
    | Wed, Apr. 20, 9:14 AM
  • Tue, Apr. 19, 5:30 PM
    | Tue, Apr. 19, 5:30 PM | 2 Comments
  • Thu, Apr. 14, 4:24 PM
    • Four major newspaper companies have come together in a new national ad network that will help marketers get better targeting on digital platforms.
    • Gannett (GCI -1.5%), Tribune (TPUB -2.3%), McClatchy (MNI -4.6%) and Hearst have built Nucleus Marketing Solutions, which will benefit from the combined reach of 168M unique visitors, and access to 70% of consumers in the 30 top markets. It's similar to the programmatic team-up Pangaea, formed by the Guardian, CNN International, the Financial Times, Reuters and the Economist.
    • Seth Rogin -- recently departed chief revenue officer at Mashable -- will be CEO of the effort.
    • Now read Feds Sue Tribune Hours After It 'Wins' Bid For Freedom Communications »
    | Thu, Apr. 14, 4:24 PM
  • Fri, Apr. 1, 6:15 PM
    • McClatchy (NYSE:MNI) is once again back in compliance with listing standards at the NYSE.
    • The company got a Feb. 16 notice that it ran afoul of the requirement that average closing price needed to remain at $1/share or above for 30 straight trading days.
    • The stock closed at $1.05 yesterday with a 30-day average of $1.14. (It fell 5.5% today to $0.992, however.)
    • McClatchy also resumed compliance with NYSE standards in November, following a buyback that goosed shares more than 8%.
    • Now read McClatchy Co. Is The Potential Return Worth The Risk? »
    | Fri, Apr. 1, 6:15 PM
  • Fri, Feb. 19, 12:03 PM
    • McClatchy (MNI +2%) has reduced debt by $30.8M through a private note transaction.
    • The publisher bought back $20.8M of its 5.75% notes due 2017, and $10M of its 9% secured notes due 2022, for a total of $28.8M plus accrued and unpaid interest.
    • That leaves the company's debt balance at $906.5M. "Our next debt maturity date is in 2017 and is approximately $35 million, and we have no other maturities due until the end of 2022," says CFO Elaine Lintecum.
    • It added that it received a delisting warning from the NYSE over its $1 average closing price rule, and says it intends to cure the deficiency.
    | Fri, Feb. 19, 12:03 PM
  • Fri, Feb. 12, 3:36 PM
    • McClatchy (MNI +3.8%) today said it's contributed company-owned real estate to its defined-benefit pension plan.
    • The package includes six properties -- land and buildings in North Carolina, Mississippi, Florida and California where it operates newspapers and offices -- valued at about $47.1M in aggregate.
    • The company will lease back the property from the pension plan for an 11-year term, paying total annual rent of about $3.5M.
    • McClatchy figures the contribution will more than satisfy a "nominal" required pension contribution. It's a "win-win" for the plan and the company, says CFO Elaine Lintecum, as the company will preserve cash to repay debt.
    • Previously: McClatchy up 3.6% on Q4 revenue beat (Feb. 10 2016)
    | Fri, Feb. 12, 3:36 PM | 1 Comment
  • Wed, Feb. 10, 10:25 AM
    • McClatchy (NYSE:MNI) is up 3.6% after Q4 revenues slipped nearly 8% but easily beat expectations as it continued a digital shift in its ad mix.
    • Digital revenues sped up in Q4 and the second half, and the company revamped sales forces and grew digital marketing services for small/medium businesses.
    • Net revenue breakout: Advertising, $177.8M (down 11.9%); Audience, $94.5M (down 1%).
    • Of the advertising decline, retail ads fell 15.1% to $93.4M and total classified fell 9.4% to $43.2M. National advertising was the only gainer among subcategories, increasing 1.2% to $14M.
    • In guidance, the company forecast that digital-only ad revenues should stay to trend and grow in double digits in 2016, while print ads are expected to be a smaller part of the total. Cash expenses are expected to decline, and cash from operations and proceeds from monetizing real estate will be used on the balance sheet, including debt reduction.
    • Conference call to come at noon ET.
    | Wed, Feb. 10, 10:25 AM