McClatchy reports $21.7 million loss for fourth quarter
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 costs cuts this year.
McClatchy Co., owner of the The Charlotte Observer, said Thursday it took a $1.47 billion accounting charge in the fourth quarter to reflect further declines in its stock price and a tough outlook for its newspapers.