Star's parent company McClatchy reports 32 percent drop in revenue

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Gary B. Pruitt. The "B" stands for "Bloodletting."
  • Gary B. Pruitt. The "B" stands for "Bloodletting."

Surely I don't have to tell you that all print media -- alt-weeklies included -- have been having a hell of a time finding new ways to bring in revenue as a dollar's worth of print advertising moves to a nickel's worth on the Web. So it pains me to report that the Star's parent company, McClatchy, has announced a 32 percent drop in second-quarter revenue as advertising sales declined.

The company's CEO, Gary Pruitt, has said he'll keep cutting costs to offset another anticipated revenue decline for the third quarter, ending this September. That's about as ominous as corporate-speak gets.

What does this mean for the Star? Who the hell knows. One would like to think they expected this and it won't require yet another round of layoffs. Maybe Steve Penn's recent dismissal saves a job or two. Guess we'll have to wait and see.



Follow The Pitch on Facebook and on Twitter @pitchplog and Peter Rugg on Twitter @petermrugg

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