McClatchy to sell the SLO Tribune building

March 25, 2017

By KAREN VELIE

McClatchy, running in the red for years, is planning to sell The Tribune building on Higuera Street this year, according to a presentation McClatchy made on Feb. 28 to JP Morgan.

In 2015, McClatchy incurred a loss of $300.2 million. Though still in the red, by cutting expenses and selling real estate, McClatchy reduced its losses to $34.2 million in 2016, according to McClatchy’s financial reports.

Last year, McClatchy was able to reduce operating expenses by 6.8 percent. In addition, McClatchy sold a covered garage in Sacramento and a building in Wichita, Kansas.

While McClatchy has cut back on staff and the amount of news it covers, advertising revenues have fallen.

In 2016, advertising revenues were down 10.8 percent compared to 2015. In addition, daily circulation dropped 9.3 percent and distribution of the Sunday paper was down 10.5 percent.

On the upside, online views increased by 26.8 percent.

The publishing company concluded 2016 with approximately $868 million in outstanding debt.


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Kaiser Bill

The Tribune won’t exist in 5 years, so who will publish fake news and Adam Hill’s nasty editorials that sound like they were written by Leon Trotsky?


Rich in MB

Where will the Democratic party be without the Fake News Media pushing their lies? Happy days are approaching my friends…happy days.


SLOBIRD

They might as well sell off the building, nothing is happening down there that is news worthy. I stopped my subscription last year and 3 of my friends cancelled this year. This is really a worthless news source and what little they do report is bias,


Black Copter Pilot

The market has spoken


SLO_Children_at_play

The local newspaper that supported Jan Marx and that defends and protects Adam Hill is about to become insolvent? Guess if you support moral bankruptcy, it will lead to ultimate failure. Maybe McClatchy can blame this all on an evil Russian Plot.


SamLouis

I’m going to ask the following question with 100% sincerity…


Couldn’t the Tribune increase ad and subscription revenues by being a touch less politically skewed in one direction on what it prints? Or is SLO County (especially the City of SLO) truly that skewed itself, and has the Tribune already adroitly skewed itself in an attempt to meet that majority demand?


Further, couldn’t the Tribune raise revenues by doing whatever it would take to raise the overall journalistic quality (in addition to eliminating the political skewness ) of what it prints?


The Telegram-Tribune was a decent enough local paper when it had little competition. The Tribune has decayed into truly a terrible newspaper while their competition continues to grow.


winedude

You need talking points that aren’t straight from Fox News nor from our moronic leader.


Nightrider

Maybe if they stopped slanting the News, they could make some money.


Side_Show_Bob

Hopefully, they’ll be selling off all the “journalists” in the building, as well.


sloweb

Bob, they were sold a long time ago! Marx & Hill bought a couple.


Rich in MB

The Liberal Drive-by Media just isn’t selling anymore as it’s been unmasked as Fake News.