McClatchy Monday Conference Call And Q3 Report Reveal Hard Times For Tumbling Kansas City Star Parent Company
The SMARTEST DENIZENS of our KICK-ASS TKC BLOG COMMUNITY told us to keep track of the McClatchy conference call that would give us a bit of insight into the company's ongoing financial troubles amid hype and defiant talk of local reporters that is often unquestioned and mostly misinformed regarding economic reality.
To wit . . .
LIKE IT OR NOT, THE KANSAS CITY STAR PARENT COMPANY CONFRONTS EPIC LOSSES THAT INSPIRE STOCK MARKET SKEPTICISM!!!
While some speculators hope for a "dead cat bounce" and traders have targeted the company for more action on both ends as if they're plotting a financial assault on the biz . . . Here's some highlights of today's news . . .
Seeking Alpha: McClatchy -3% as revenue shortfall drives Q3 loss
Some highlights . . .
- Revenues fell 9.4% overall
- Advertising down 13.4%
- Audience down 4.3%
- Over the past year, the price of The McClatchy Company (MNI) has decreased -57.62%
- Net loss of $238.9M - Adjusted net loss was $5.9M
You decide . . .
They are hurting.
ReplyDeleteIf you notice the new reporters are getting paid a lot less. The discount strategy is noticeable.
And where did you "notice" new reporter salaries? Up Tony's ass?
DeleteGreat time to buy, they have a 20-day moving average upward.
ReplyDeleteDon't be glum. Make some money!
Still makes a good bird cage liner, just saying.
ReplyDeleteThe Star is very good at hiring worthless columnists and losing money. And lying.
ReplyDeleteTHE KC STAR IS GOIN DOWN WITH THE LIBS
ReplyDeleteBetter cage liner, or better fish wrap?
ReplyDeleteAs myself and many others,have said on tonyskansascity comments in the past there readership goes there advertising leaves. They have delivery problems Who will pay several hundred dollars a year if the paper can't be delivered. And customer service is in the Philippines.
ReplyDeletehard to feel sorry for them.
ReplyDeleteWhat will Hoopz do if the Star closes? Start turning tricks or hand jobs?
ReplyDeleteGood By good Riddance
ReplyDeleteBest way to cut costs is jobs.
ReplyDeleteEditorial staff should go.
Do the same and expect different results is Einstein defining “Insanity”.
Why do they send people out of town for stories and pictures? Antiquated thinking and poor business acumen.
If it’s not making money- at least try something new.
Suggestions:
1. Lay off all editorialists. Opinions are some a dozen.
2. Have civilians submit photography for free.
3. Have live hometown customer service.
4.Cap pay at $43,453 a year for reporters.
5. Use college student labor.
6. Use Uber for delivery.
No one pays for internet news. Paywalls are a joke thanks to freebies and advertisement removal services.
Most get real unbiased news from no where- everything is biased.
Solution?
Short their stock... and make real money!!!
So how much is it costing KC tax payers to keep the left wing Star on life support?
ReplyDeleteTheir audience wouldn't be down if they didn't alienate half their potential customer base with an anti Republican editorial staff
ReplyDeleteand biased liberal content.
They should quit charging people to pay for the online version of their papers.
ReplyDelete@ 7:55, there is no cost to get the Star's on-line version if you have a Johnson County Public Library card.
ReplyDeleteBut the Star provides free access ONLY to the Johnson County Library patrons. Clear message to the rest of us, isn't it?