The McClatchy Co. on Friday reported higher-than-expected third quarter profits on revenues that fell 8.4 percent from the same period last year.
Sacramento-based McClatchy is the parent company of The News Tribune, The Olympian, The Peninsula Gateway and The Herald in the South Sound and 26 other daily and community newspapers across the country. The company’s earnings, $9.4 million, were higher than Wall Street had predicted. Lower advertising and circulation revenues led to lower profits than in the comparable quarter in 2010 when earnings totaled $11.9 million. Advertising declines, 10 percent in the third quarter, softened somewhat as the quarter ended, said McClatchy Chairman Gary Pruitt.
John Gillie, staff writer
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