![]() The Boston Globe, Minneapolis Star-Tribune and Las Vegas Review-Journal are among other major American newspapers that appear to have steadied themselves after being sold to local wealthy individuals. The Washington Post and Los Angeles Times, both national publications, are thriving after being bought by billionaires. Last year, New York Times executive editor Dean Baquet bleakly predicted the demise of “most local newspapers in America” within five years, except for ones bought by billionaires. ![]() Sunday circulation fell 9% to 30.8 million, according to the Pew Research Center for Journalism and Media. daily newspaper circulation including both print and digital in 2018 fell 8% from the prior year to 28.6 million for weekday. Independent newspapers and chains alike are struggling. The company has more than 200,000 digital-only subscribers and over 500,000 paid digital customer relationships. McClatchy has suffered as readers give up traditional subscriptions and get news online and like other publishers, it’s tried to follow them there.ĭigital-only subscriptions have increased by almost 50% year over year, McClatchy said, and subscriptions are now roughly evenly balanced between total audience and advertising revenues, with digital accounting for 40% of those revenues and growing. Its restructuring plan needs approval from its secured lenders, bondholders and the Pension Benefit Guaranty Corp. Bankruptcy Court for the Southern District of New York. McClatchy filed for bankruptcy protection in the U.S. The company expects to pull its listing from the New York Stock Exchange as a publicly traded company, and go private. That would mean that the publisher’s revenue will have slid for six consecutive years. Its 2019 revenue is anticipated to be down 12.1% from the previous year. McClatchy expects fourth-quarter revenues of $183.9 million, down 14% from a year earlier. “We are moving with speed and focus to benefit all our stakeholders and our communities.” “When local media suffers in the face of industry challenges, communities suffer: polarization grows, civic connections fray and borrowing costs rise for local governments,” said CEO Craig Forman. That, combined with normal operating cash flows, will provide enough cash for the company, still based in Sacramento, to continue to function. McClatchy has received $50 million debtor-in-possession financing from Encina Business Credit. The publisher’s origins date to 1857 when it first began publishing a four-page paper in Sacramento, California, following the California Gold Rush. ![]() McClatchy Co.’s 30 newsrooms, including The Charlotte Observer, The News & Observer in Raleigh, and The Star-Telegram in Fort Worth, will continue to operate as usual as the publisher reorganizes under Chapter 11 bankruptcy protection. The publisher of the Lexington Herald Leader, Miami Herald, Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. Brechter (Center bias) in July 2022 noted a lack of political bias in the newspaper's news coverage, and a slight leftward lean in its opinion section.SACRAMENTO, Ca. It has also been a finalist in six other Pulitzer awards over the past 22 years, a record that has been unsurpassed by any mid-sized newspaper in the United States during the same time frame.Īn independent review of Herald-Leader conducted by AllSides Managing Editor Henry A. The newspaper has won the 1986 Pulitzer Prize for Investigative Reporting the 1992 Pulitzer Prize for Editorial Writing and the 2000 Pulitzer Prize for Editorial Cartooning. According to the 1999 Editor & Publisher International Yearbook, the Herald-Leader's paid circulation is the second largest in the Commonwealth of Kentucky. The Lexington Herald-Leader is a newspaper owned by The McClatchy Company and based in the U.S. AllSides encourages people to read outlets across the political spectrum. Sources with an AllSides Media Bias Rating of Center either do not show much predictable media bias, display a balance of articles with left and right biases, or equally balance left and right perspectives.Ĭenter doesn't mean better! A Center media bias rating does not necessarily mean a source is totally unbiased, neutral, perfectly reasonable, or credible, just as Left and Right don't necessarily mean extreme, wrong, unreasonable, or not credible. Lexington Herald-Leader is a news media source with an AllSides Media Bias Rating™ of Center.
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