Wednesday, December 26, 2007

McClatchy spin

Interesting read about McClatchy, parent company of the Heralds, in the Wall Street Journal today. It gives some details about McClatchy's CEO, Gary Pruitt and provides some history including the recent acquisition of the Heralds and other Knight Ridder newspapers.

The interesting things is how they try to put a happy face on the loss of 2/3 of the share value in the last year. The McClatchy family owns 80% of the voting shares.

Pruitt gets a vote of confidence from the board of directors in the piece and Gannett Blog says that's usually what happens right before one gets fired.

H/T: McClatchy Watch

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