Online advertising continues to be a bright spot for the company, with online advertising up in all categories except employment advertising.

McClatchy Company is one of the largest domestic newspaper publishers:

Released: 11/19/2008

SACRAMENTO, Calif., Nov. 19 /PRNewswire-FirstCall/ -- The McClatchy Company (NYSE: MNI) today reported that consolidated revenues in October 2008 decreased 17.8% and advertising revenues were down 20.4% compared to revenues in October 2007. The Company noted that the declines in print advertising were partially offset by a 12.4% gain in online advertising revenues in October 2008 compared to October 2007. For the first ten months of the year, total revenues declined 15.5% and advertising revenues declined 17.4%. Online advertising grew 10.9% in the first ten months of 2008.

Pat Talamantes, McClatchy's chief financial officer, said, "October advertising activity turned out to be similar to recent months. The economic slowdown continues to hurt consumer confidence and as a result negatively impacts our advertising customers in the local markets we serve. Online advertising continues to be a bright spot for the company, with online advertising up in all categories except employment advertising. In fact, when employment advertising, which has declined both in print and online as a result of the nation-wide slow down in hiring, is excluded our online advertising revenue was up 57.6% in October 2008 compared to October 2007."