Advertising revenue dipped almost 1% in February … with total revenues slipping more than one and a half percent for the McClatchy Company, which a week ago announced it will be buying the Knight Ridder newspaper chain for $4.8 billion dollars.
That deal is meeting some skepticism by investors. McClatchy’s stock slipped after the announcement … and fell another 2 percent on Monday, a 52-week low. The long-term future of daily newspapers is uncertain. And McClatchy’s ability to sell a dozen of the 32 papers it is purchasing for a good price is yet to be seen. On the up side, the McClatchy company says that year to date, total revenues are up very slightly.