The McClatchy Company management today provided an update of business trends for 2010 and an outlook for 2011. Management noted that it saw a continuation of improving advertising revenue trends in October and November 2010. Advertising revenues were down 5.8% in October and November 2010 combined, compared to declines of 6.4% in the third quarter, 8.2% in the second quarter and 11.2% in the first quarter of 2010. Year-to-date advertising revenues through November 2010 were down 8.0%. Total revenues for October and November 2010 combined were down 5.1% and were down 6.2% year-to-date through November 2010.
Management noted the improving advertising trends in 2010 have been led by classified advertising, and in particular, improving trends in employment classified advertising. Employment advertising at McClatchy turned positive in May 2010 and has grown 2.1% over the last seven months.
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