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Newspaper publisher McClatchy warns of ‘liquidity challenge’

“Revenue fell 12% to $167.4 million, as advertising revenue declined 19% to $76.8 million and audience revenue dropped 6.8% to $78.3 million” writes Reporter Editor for marketwatch.com. Shares of McClatchy Co. sank Wednesday, after the publisher of local newspapers warned that it faced a “liquidity challenge” next year following an unfavorable ruling associated with required contributions to its under-funded pension plan.The amount due “greatly exceeds” anticipated cash balances and cash flow, creating “a significant liquidity challenge” for next year.
 
Source: marketwatch.com



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