Company Overview of The McClatchy Company
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
Founded in 1860
Key Executives for The McClatchy Company
Chief Executive Officer, President and Director
Total Annual Compensation: $825.0K
Chief Financial Officer and Vice President of Finance
Total Annual Compensation: $439.0K
Vice President of Corporate Development, General Counsel and Corporate Secretary
Total Annual Compensation: $1.0M
Vice President of Operations
Total Annual Compensation: $1.2M
Vice President of Operations
Total Annual Compensation: $1.1M
Compensation as of Fiscal Year 2014.
The McClatchy Company Key Developments
Matter Announces Four New Partners - Associated Press, A.H. Belo Corporation, Community Newspaper Holdings, Inc. and The McClatchy Company
Feb 18 15
As the demand for media innovation in newsrooms continues to grow, Matter, announced four new partners: The Associated Press, A.H. Belo Corporation, Community Newspaper Holdings, Inc. and The McClatchy Company. The new seven-organization partnership will allow Matter to strengthen and extend its accelerator program, which provides seed funding, educational workshops and mentoring to media entrepreneurs, building more informed and connected communities. The new partnership features a powerful mix of international, national and local media organizations with a vast reach across television, radio, online and print. Startups selected to participate in Matter will have access to these networks, along with the chance to test and refine their ideas in a real-world setting. At the same time, Matter will work with partners directly to help introduce new innovations and business processes into newsrooms. Additionally, Matter will launch a seed investing initiative outside of its accelerator program for media entrepreneurs who show potential to make a positive impact on society, while pursing a sustainable, profitable business model.
The McClatchy Company Announces Corporate Reorganization; Announces Executive Changes
Feb 12 15
The McClatchy Company announced plans to reorganize its corporate operations, including expanding its sales and marketing efforts and integrating McClatchy Interactive, the company's digital hub, into the rest of the company. As part of the changes, employees with McClatchy Interactive, the company's digital division in Raleigh, N.C. will become part of other company operations, including technology, finance, digital revenue development and digital news.
The company is working toward a June 30 implementation date, which coincides with the previously announced retirement of Bob Weil, one of two McClatchy vice presidents for operations and a member of McClatchy's senior management team. The reorganization means new roles and responsibilities for two senior executives, Mark Zieman, vice president, operations, and Christian A. Hendricks, vice president of interactive media. Beginning June 30, 2015, Zieman will continue in an expanded role as vice president of operations with oversight of McClatchy's 29 local media properties, the corporate digital revenue development team and the corporate roduction team. Additionally, Zieman will oversee an expanded corporate advertising department to increase the company's sales strength, assist local markets with training, revenue growth strategies and new sales tools. Hendricks will take on new responsibilities and a new title June 30, 2015 as vice president of products, marketing and innovation. He will assume oversight of audience development, business development, product management, mobile initiatives, marketing, corporate communications, and external partnerships and will continue his oversight of McClatchy's Tru Measure subsidiary.
The Mcclatchy Company Reports Unaudited Consolidated Earnings Results for Fourth Quarter and Year Ended December 28, 2014; Reports Assets Impairments; Provides Earnings Guidance for 2015
Feb 11 15
The McClatchy Company reported unaudited consolidated earnings results for fourth quarter and year ended December 28, 2014. For the quarter, the company’s net revenues were $317,614,000 against $337,557,000 a year ago. Operating income was $41,164,000 against $44,275,000 a year ago. Income from continuing operations before taxes was $495,209,000 against of $19,722,000 a year ago. Income from continuing operations was $303,010,000 or $3.45 per diluted share against $11,944,000 or $0.13 per diluted share a year ago. Net income was $302,642,000 or $3.44 per diluted share against $12,527,000 or $0.14 per diluted share a year ago. Operating cash flow was $71,856,000 against $96,113,000 a year ago. Adjusted income from continuing operations was $10,970,000 against $29,355,000 a year ago.
For the year, the company’s net revenues were $1,167,875,000 against $1,214,848,000 a year ago. Operating income was $82,323,000 against $120,944,000 a year ago. Income from continuing operations before taxes was $607,207,000 against of $28,103,000 a year ago. Income from continuing operations was $375,977,000 or $4.26 per diluted share against $16,444,000 or $0.19 per diluted share a year ago. Net income was $18,803,000 or $4.23 per diluted share against $18,803,000 or $0.22 per diluted share a year ago. Operating cash flow was $210,496,000 against $271,855,000 a year ago. Adjusted income from continuing operations was $6,956,000 against $44,893,000 a year ago.
For the fourth quarter of 2014, the company reported assets impairments of $7,203,000 compared with $14,200,000 for the same period last year.
For the full year 2015, the company expects to continue its digital transformation and revenue diversification. Nearly two-thirds of its revenues are derived from sources other than print newspaper advertising. In 2015 the company expects to focus on growing revenue sources that include digital and direct marketing advertising, audience and other non-traditional revenues. Management expects newspaper print advertising to be a smaller share of overall advertising, due in part to expected double-digit growth in digital-only advertising revenues and solid performance in both direct marketing and audience revenues. The company expects 2015 to be another year of continuing improvement in the company's financial condition. The company expects no required pension plan contributions in 2015 and anticipates about $20 million in capital expenditures next year.
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