It's earnings season and another time for newspapers to report their bleak results. For McClatchy that means reporting that it suffered a net loss in the final quarter of 2012 of $30.0 million, including a $60.0 million after-tax loss on debt refinancing. On the bright side, total digital advertising revenue grew 3.5 percent in Q4, with digital-only advertising revenues up 14.9 percent over 2011.
The thing that struck me while looking at the numbers was that ad revenue fell in Q4 in every market served by McClatchy, though only California, home to the Sacramento Bee, ended the year in the red.
Because of this, 2013 may end up being a make or break year for the newspaper publisher, and Q1 results will show whether they can stem their ad revenue losses going forward.