McClatchy Profits Drop Further
Sacramento newspaper publisher The McClatchy Co. (publisher of the Sacramento Bee) has revised its second-quarter earnings to reflect the increased costs of ending a dispute over a newspaper publishing arrangement in Seattle, trimming its net income by six cents a share.
Last month, the Sacramento based McClatchy had issued preliminary earnings numbers of $39,200,000 from continuing operations, or 48 cents per share, but said at that time that the actual figure would have to await a final decision on how to account for a settlement in the Seattle Times dispute.