Tuesday, April 26, 2011

KC Star parent company posts $2 million net loss for first quarter

Posted By on Tue, Apr 26, 2011 at 1:23 PM

click to enlarge It's hard out there for a national media company.
  • It's hard out there for a national media company.

NEWS FLASH! Did you know that print media have been having a bitch of a time with fiscal solvency? Oh, I see. Well, those of you who volunteered for that cryogenics experiment back in World War II: Know that as the time locks blow on your hyperbaric chambers, your shivering bodies emerge into a whole new world.

The latest news as it relates to Kansas City is that the Star's parent company, McClatchy, just announced its first-quarter revenues, and while the earnings weren't great, or existent really, there is some good news.



Here are the relevant numbers from the company's release:

Revenues in the first quarter of 2011 were $303.7 million, down 9.5% from the first quarter of 2010.  Advertising revenues were $225.1 million, down 11.0% from 2010, and circulation revenues were $66.2 million,

down 5.0%. Digital advertising revenues grew 2.2% in the first quarter

of 2011 and were 20.1% of total advertising revenues compared to 17.5%

of total advertising revenues in the first quarter of 2010.

As all media companies -- Pitch included -- alter their business models to fit the new world, it's a safe bet that those digital advertising revenues are going to continue trending upward. But whether they ever get near what print advertising was doing before those dickholes at Craigslist ruined life for everyone remains to be seen.

McClatchy's chief financial officer quickly pointed out that even though the company suffered a net loss, it also reduced its debt by $20.6 million in the first

quarter to $1.75 billion.

The Star
has been through some brutal rounds of layoffs over the

last few years, so for the mental health of the remaining employees, hope

for the best.    


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