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McClatchy Q3 Earnings: Ad Revenue Down, Circulation Revenue Up

mcclatchy.jpgThe McClatchy Co. (MNI), the third largest newspaper publisher in the U.S., reported its third quarter earnings this morning.

The company reported a net income of $23.6 million for the quarter, up $4.2 million during the same period last year. Adjusted earnings also grew from 2008, reaching $11 million compared to $10.4 million last year.

However, revenue dropped 23.1 percent during the quarter compared to last year. Advertising revenues were $266.1 million, down 28.1 percent from 2008, but circulation revenues increased 6.7 percent to $69 million.

And as McClatchy moves towards becoming an integrated print and online publishing company, online advertising revenues grew 3.1 percent during the quarter. They now make up 17.6 percent of total advertising revenues compared to 12.2 percent of total advertising revenues in the third quarter of last year, McClatchy said.

Read the full earnings release.

Earlier: McClatchy Dailies Joine AP’s Mobile News Network

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Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.