McClatchy layoffs?

Matt Kawahara also is on staff, but there is no River Cats beat writer.

 

That's who I was trying to think of.

 

Next up, Tacoma News-Tribune:

 

That sucks about Tacoma. They've had some openings on the desk in the past couple years, and now they turn around and do this. Sucks for those newbies and the veterans who are all looking for work now. Hope everyone can rebound quickly, preferably in a more stable industry.

 

I heard Hilton Head got rid of its only remaining sports reporter.

 

So in Sacramento we have counted Matt Kawahara (general assignments), Matt Barrows (49'ers) Jason Jones (Kngs), Aileen Voisin (columnist) and Joe Davidson (preps). Is Sacramento at five?

 

They did. Jeff Shain. That's an area with pretty good preps and a heck of a golf scene (RBC Heritage is there). And they have no one on staff in the sports department right now.

 

Wow, and Shain had done some pretty good work there ... APSE-worthy, IIRC ...

 

McClatchey to me, from reading this board, seems like it is rivaling Gannett for worst chain. And it certainly appears to be one that has done the most to decimate the staffs of big city papers along with Gannett of course. a.) is this observation correct? b.) why the hell is McClatchey in business? Seems to me they are losing buckets of money and need to sell the whole damn chain before all the big city papers they own or large properties employ about 5 people in editorial total. WTF with this chain? Explain?

 

I have posted this before but in response to your question McClatchy is underwater. Because of their bank debt and the money they owe pension funds no one will buy them. Newspapers currently sell for four times cash flow. In calendar year 2016 McClatchy generated about 190 billion in cash flow. So the companies papers are worth under one billion dollars. Total long term debt is above 1.5 billion.

Revenue declined eight percent in Q1 2017 so this year will be worse. The company scratches up enough cash to pay the banks. As revenues decline the company cuts more to generate enough cash to pay the banks.

 

Do any good chains/companies exist anymore, or is it just a matter of a few of them being the best of a bad lot?

I'd have given my company a solid B until early last year. Because of its actions since then, I'd drop it to a C-minus now -- borderline bad, but still far ahead of Gannett and GateHouse. Unfortunately, I could see either one of those hyper-acquisitive companies swallowing up our shop one of these days.