Newspaper publisher McClatchy Co. reported a $21.7 million loss for the fourth quarter on Thursday, reflecting the declining value of its newspapers, and said it plans deep cost cuts this year.So the Herald's parent company is about to be de-listed by the NYSE and Gary Pruitt the CEO still has a job.
McClatchy, which publishes The Miami Herald, The Sacramento (Calif.) Bee and other newspapers, wouldn't say how much, if any, of the $100 million to $110 million in cuts would come from layoffs. The company said plans were still being completed...
Shares in the Sacramento, Calif.-based company rose 4 cents, or 6.1 percent, to 70 cents in morning trading Thursday. The company said Thursday it has fallen below the New York Stock Exchange's standards for listing, but the company will notify the exchange of plans to return to compliance.
Over/under on months the Herald can stay in business?