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The McClatchy Company

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The McClatchy Company NYSE: [MNI] is an American publishing company based in Sacramento, California, that operates a number of newspapers and websites. The company originated in The Sacramento Bee, which was first published on February 3, 1857, after the California Gold Rush. James McClatchy took over as editor of the Bee within a week. Having purchased Knight Ridder, the United States' second-largest newspaper company (see below), McClatchy operates 32 daily newspapers in 29 markets, with a total circulation of 3.3 million. [link] In addition, McClatchy operates a number of community papers that are printed with less frequency. Prior to the purchase of Knight Ridder, Minneapolis-St. Paul's Star Tribune, acquired in 1998, had the highest circulation of all McClatchy newspapers, while the Bee ranked second in circulation.

Most of the company's history has been in newspapers of the Golden State's Sacramento Valley and San Joaquin Valley. It acquired its first out-of-state newspapers in 1979. It is now a multi-state operation, primarily operating in California and the Carolinas. The company's combined average circulation is 1.4 million daily and 1.9 million Sunday. McClatchy newspapers have earned 12 Pulitzer Prizes, three of which were gold medals for public service.

In its first moves outside its home state, McClatchy bought the Anchorage Daily News in Anchorage, Alaska, and the Tri-City Herald in Kennewick, Washington in 1979. McClatchy has an Internet subsidiary, McClatchy Interactive (formerly known as Nando Media), which provides business support and material for Internet media nationwide. It was acquired along with The News & Observer of Raleigh, North Carolina, in 1995. Other operations include Newsprint Ventures Inc., a consortium that operates the Ponderay newsprint mill near Spokane, Washington. As of 2004, the company has about 9,300 employees.

McClatchy's presence in the Southern United States began in 1990, when it acquired three dailies in South Carolina: The Herald in Rock Hill, The Island Packet in Hilton Head, and The Beaufort Gazette of Beaufort.

In January 2004, McClatchy bought the Merced Sun-Star of Merced, and five affiliated non-dailies in California's San Joaquin Valley. Those newspapers are the Atwater Signal of Atwater, the Chowchilla News of Chowchilla, the Livingston Chronicle of Livingston, the Los Banos Enterprise of Los Banos and the Sierra Star, of Oakhurst.

McClatchy purchased Knight Ridder, formerly the United States' second-largest chain of daily newspapers, on June 27, 2006. The purchase price of $40 per share and 0.5118 shares of McClatchy Class A stock is valued at about $4 billion in cash and stock and assumption of $2 billion in debt. This purchase added 20 papers to be retained with immediate sale of 12 publications, including the San Jose Mercury News and The Philadelphia Inquirer.

Contents

Dailies

Dailies acquired in Knight Ridder purchase with plans to sell quickly

References

External links

 

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