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February 27, 2008 at 16:15 PM EST
McClatchy Reports January 2008 Revenues

SACRAMENTO, Calif., Feb. 27 /PRNewswire-FirstCall/ -- The McClatchy Company (NYSE:MNI) today reported that consolidated revenues in January 2008 decreased 14.4% and advertising revenues were down 15.7% compared to revenues in January 2007.

Pat Talamantes, McClatchy's chief financial officer, said, "We were disappointed in our revenue performance in January, and foresee similar performance during the rest of the quarter. As we anticipated, a majority of the decline continued to come from newspapers in California and Florida, two states severely affected by the real estate downturn, and we are feeling the impact of worsening economic trends. We are intensely focused on cost controls to mitigate the impact on our profitability."

Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.

About McClatchy

The McClatchy Company is the third largest newspaper company in the United States, with 30 daily newspapers, approximately 50 non-dailies, and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which extend its audience reach. The websites offer users information, comprehensive news, advertising, e-commerce and other services. Together with its newspapers and direct marketing products, these interactive operations make McClatchy the leading local media company in each of its premium high growth markets. McClatchy-owned newspapers include The Miami Herald, The Sacramento Bee, The Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer.

McClatchy also has a portfolio of premium digital assets. The company owns and operates McClatchy Interactive, an interactive operation that provides websites with content, publishing tools and software development. McClatchy owns 14.4% of CareerBuilder, the nation's largest online job site, and owns 25.6% of Classified Ventures, a newspaper industry partnership that offers two of the nation's premier classified websites: the auto website, cars.com, and the rental site, apartments.com. McClatchy is listed on the New York Stock Exchange under the symbol MNI.

Additional Information:

Statements in this press release regarding future financial and operating results, including revenues, operating expenses, cash flows, debt levels, as well as future opportunities for the company and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the duration and depth of an economic recession in markets where McClatchy operates its newspapers may reduce its income and cash flow greater than expected; McClatchy may not consummate contemplated transactions which may enable debt reduction on anticipated terms or at all; McClatchy may not achieve its expense reduction targets or may do harm to its operations in attempting to achieve such targets; McClatchy's operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; McClatchy's expense and income levels could be adversely affected by changes in the cost of newsprint and McClatchy's operations could be negatively affected by any deterioration in its labor relations, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the Company's Annual Report on Form 10-K for the year ended December 30, 2007, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release.



                           ***The McClatchy Company***
                         Consolidated Statistical Report
                      (In thousands, except for preprints)

                                                           January
                                                          Combined

    Revenues - Net:                              2008         2007   % Change

    Advertising
      Retail                                  $67,569      $73,614      -8.2%
      National                                 13,889       17,465     -20.5%
      Classified Total                         51,719       68,502     -24.5%
        Automotive                             12,478       14,893     -16.2%
        Real Estate                            12,863       19,683     -34.6%
        Employment                             18,168       25,948     -30.0%
        Other                                   8,210        7,978       2.9%
      Direct Marketing                         12,228       12,959      -5.6%
      Other Advertising                           133          120      10.8%
    Total Advertising                        $145,538     $172,660     -15.7%

    Circulation                                25,786       27,436      -6.0%
    Other                                       5,505        6,600     -16.6%
      Total Revenues                         $176,829     $206,696     -14.4%


    Advertising Revenues by Market:
      California                              $26,338      $34,055     -22.7%
      Florida                                  22,290       31,382     -29.0%
      Texas                                    15,991       16,894      -5.3%
      Southeast                                42,094       47,350     -11.1%
      Midwest                                  21,870       23,367      -6.4%
      Northwest                                16,817       19,091     -11.9%
      Other                                       138          521     -73.5%
    Total Advertising                        $145,538     $172,660     -15.7%



                                                         January
                                                        Print Only

    Revenues - Net:                             2008        2007     % Change

    Advertising
      Retail                                  $64,862      $71,697      -9.5%
      National                                 12,940       17,060     -24.2%
      Classified Total                         40,599       56,424     -28.0%
        Automotive                              9,949       12,982     -23.4%
        Real Estate                            11,547       18,407     -37.3%
        Employment                             11,629       17,610     -34.0%
        Other                                   7,474        7,425       0.7%
      Direct Marketing                         12,228       12,959      -5.6%
      Other Advertising                           134          120      11.7%
    Total Advertising                        $130,763     $158,260     -17.4%


    Advertising Revenues by Market:
      California                              $23,896      $31,666     -24.5%
      Florida                                  20,705       29,275     -29.3%
      Texas                                    14,554       15,836      -8.1%
      Southeast                                37,094       42,717     -13.2%
      Midwest                                  19,745       21,107      -6.5%
      Northwest                                14,769       17,178     -14.0%
      Other                                         0          481    -100.0%
    Total Advertising                        $130,763     $158,260     -17.4%


    Advertising Statistics for Dailies:
        Full Run ROP Linage                   2,469.2      2,822.5     -12.5%

        Millions of Preprints Distributed       544.4        579.4      -6.0%


    Average Paid Circulation:*
      Daily                                   2,708.8      2,802.2      -3.3%
      Sunday                                  3,315.8      3,462.9      -4.2%



                                                         January
                                                       Online Only

    Revenues - Net:                             2008        2007     % Change

    Advertising
      Retail                                   $2,706      $1,918       41.1%
      National                                    949         405      134.3%
      Classified Total                         11,121      12,078       -7.9%
        Automotive                              2,529       1,911       32.3%
        Real Estate                             1,316       1,276        3.1%
        Employment                              6,539       8,338      -21.6%
        Other                                     737         553       33.3%
      Direct Marketing
      Other Advertising
    Total Advertising                         $14,776     $14,401        2.6%



    Advertising Revenues by Market:
      California                               $2,442      $2,389        2.2%
      Florida                                   1,585       2,107      -24.8%
      Texas                                     1,437       1,059       35.7%
      Southeast                                 5,000       4,633        7.9%
      Midwest                                   2,125       2,260       -6.0%
      Northwest                                 2,048       1,912        7.1%
      Other                                       139          41      239.0%
    Total Advertising                         $14,776     $14,401        2.6%

    *    Reflects average paid circulation based upon number of days in
         period. Does not reflect ABC reported figures.

Source: The McClatchy Company

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