January 22, 2017 11:51 AM ET

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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, video products, niche publications, direct marketing, direct mail services, and nearby community newspapers. The McClatchy Company was founded in 1860 and is headquartered in Sacramento, California.

2100 Q Street

Sacramento, CA 95816

United States

Founded in 1860

5,100 Employees

Phone:

916-321-1844

Key Executives for The McClatchy Company

Chief Executive Officer, President, Director and Member of Pension & Savings Plans Committee
Age: 51
Total Annual Compensation: $873.2K
Chief Financial Officer and Vice President of Finance
Age: 60
Total Annual Compensation: $466.9K
Vice President of Operations
Age: 55
Total Annual Compensation: $621.2K
Vice President of Human Resources, General Counsel and Corporate Secretary
Age: 45
Total Annual Compensation: $324.6K
Consultant
Age: 65
Total Annual Compensation: $325.4K
Compensation as of Fiscal Year 2015.

The McClatchy Company Key Developments

The McClatchy Company Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 25, 2016; Reports Intangible Asset Impairment Charges for the Third Quarter Ended September 25, 2016; Reaffirms Earnings Guidance for 2016

The McClatchy Company announced unaudited consolidated earnings results for the third quarter and nine months ended September 25, 2016. For the quarter, the company reported revenues net was $234.701 million against $251.211 million a year ago. Operating income was $1.535 million against $8.39 million a year ago. Loss before income taxes was $15.69 million against $6.03 million a year ago. Net loss was $9.804 million against $1.15 million a year ago. Diluted loss per share was $1.30 against $0.15 a year ago. EBITDA was $25.82 million against $42.49 million a year ago. Adjusted EBITDA was $34.09 million against $39.65 million a year ago. Adjusted net loss was $2.14 million against income of $3.201 million a year ago. Capital expenditures totaled $2.1 million. For the nine months, the company reported revenues net was $714.914 million against $770.75 million a year ago. Operating loss was $7.205 million against $281.735 million a year ago. Loss before income taxes was $58.01 million against $325.03 million a year ago. Net loss was $37.28 million against $308.992 million a year ago. Diluted loss per share was $4.77 against $35.40 a year ago. EBITDA was $73.96 million against loss of $183.39 million a year ago. Adjusted EBITDA was $99.14 million against $108.36 million a year ago. Adjusted net loss was $11.514 million against $5.416 million a year ago. Capital expenditures totaled $10.5 million. For the quarter, the company reported intangible asset impairment charges were $0.330 million for the third quarter ended September 25, 2016. The company reaffirmed the guidance previously provided for all of 2016. Digital-only advertising revenue is expected to grow at a double-digit rate in 2016. While the company remains committed to communicating the value of print advertising, the declining trends in direct marketing and print advertising are not anticipated to subside in the fourth quarter. Management expects print advertising revenues to continue to become a smaller portion of advertising and total revenues. Audience revenues are expected to be relatively flat for all of 2016. Management will also remain focused on growing digital revenues, stabilizing adjusted EBITDA, reducing debt and interest costs and creating shareholder value.

The McClatchy Company to Report Q3, 2016 Results on Oct 20, 2016

The McClatchy Company announced that they will report Q3, 2016 results at 9:00 AM, Eastern Standard Time on Oct 20, 2016

The McClatchy Company, Q3 2016 Earnings Call, Oct 20, 2016

The McClatchy Company, Q3 2016 Earnings Call, Oct 20, 2016

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