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May 24, 2015 5:32 PM ET

Media

Company Overview of The McClatchy Company

Company Overview

The McClatchy Company publishes newspapers, and related digital and direct marketing products in the United States. Its newspapers include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, and the (Fort Worth) Star-Telegram. The company operates 29 daily newspapers, Websites, mobile apps, mobile news and advertising, niche publications, direct marketing, direct mail services, and nearby community newspapers. It also owns 15.0% of CareerBuilder, LLC, which operates an online job Website, CareerBuilder.com; 33.3% of HomeFinder, LLC, which operates the online real estate Website, HomeFinder.com. The McClatchy Company was founded...

2100 Q Street

Sacramento, CA 95816

United States

Founded in 1860

5,780 Employees

Phone:

916-321-1844

Key Executives for The McClatchy Company

Chief Executive Officer, President and Director
Age: 49
Total Annual Compensation: $825.0K
Chief Financial Officer and Vice President of Finance
Age: 58
Total Annual Compensation: $439.0K
Vice President of Corporate Development, General Counsel and Corporate Secretary
Age: 51
Total Annual Compensation: $1.0M
Vice President of Operations
Age: 63
Total Annual Compensation: $1.2M
Vice President of Operations
Age: 53
Total Annual Compensation: $1.1M
Compensation as of Fiscal Year 2014.

The McClatchy Company Key Developments

The Mcclatchy Company Announces the Resignation of Karole Morgan-Prager as Vice President for Corporate Development, General Counsel and Secretary, Effective May 29

The McClatchy Company announced that Karole Morgan-Prager, McClatchy's vice president for corporate development, general counsel and secretary, has resigned effective May 29 to become general counsel for another company.

The McClatchy Company Announces New Appointments

The McClatchy Company appointed two of its local market executives to top corporate advertising positions. Kim Nussbaum, president and publisher of The Wichita Eagle, has been named McClatchy's vice president for advertising. Don Burk, vice president for advertising at the Star-Telegram in Fort Worth, Texas, has been named corporate director of sales. Both appointments are effective June 1 and part of a previously announced corporate reorganization to strengthen McClatchy's sales and marketing efforts and accelerate digital revenue growth. Nussbaum, will relocate from Wichita, Kan., to Sacramento. She will work closely with McClatchy's digital sales force, local publishers and ad directors to execute strategic initiatives and grow revenue. She'll also oversee McClatchy's national sales team and help serve the company's advertisers. Burk will remain in Fort Worth but work closely with each of McClatchy's 28 local media markets to speed their digital transformation and execute sales strategies in the field.

The McClatchy Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2015; Provides Revenue Guidance for the Year 2015

The McClatchy Company reported unaudited consolidated earnings results for the first quarter ended March 29, 2015. For the quarter, total net revenue was $257.178 million against $276.171 million a year ago. Operating loss was $1.158 million against $4.698 million a year ago. Loss from continuing operations before taxes was $18.999 million against $28.486 million a year ago. Loss from continuing operation was $11.346 million or $0.13 per basic and diluted share against $16.062 million or $0.19 per basic and diluted share a year ago. Net loss was $11.346 million or $0.13 per basic and diluted share against $15.842 million or $0.18 per basic and diluted share a year ago. Operating cash flow was $27.243 million against $38.534 million a year ago. Adjusted loss from continuing operations was $8.747 million against $6.125 million a year ago. Debt at the end of the first quarter was $1.033 billion. Results in the first quarter of 2015 were impacted by severance charges totaling $4.2 million, or $2.6 million after-tax, among other items. Operating cash expenses, excluding severance and certain other charges declined 3.2% from the same quarter last year. This decrease is in spite of an increase of $2.7 million from investments related to new revenue and other initiatives and digital infrastructure such as new enterprise-wide systems. For 2015, the company expects growth in digital subscribers and selective rate increases are expected to continue to fuel low single-digit increases in audience revenues. Management expects newspaper print advertising to continue to represent a smaller share of overall revenue, due in part to the growth in digital-only advertising, direct marketing and audience revenues. Management expects to have another challenging quarter in the second quarter before cash flow flattens in the second half of 2015. Management noted that expenses may be reduced further if needed based upon the revenue environment.

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