evolution

“We still have a robust staff of folks who have the resources to do their jobs,” he said. “Where we go in this digital age is that we have to get through these times and look at our structure.

“On the Internet, I can sum up our strategy in two words: Grow faster. That’s where a lot of people are finding us. What I’m really encouraged by is that we’re the McClatchy leader in readership growth and revenue growth online in the last year.”

Fannin said The Star — and many other media outlets — are in a process of reinventing themselves. “It’s challenging times for newspapers,” he said.

McClatchy is the nation’s third-largest newspaper company, with 30 daily newspapers, about 50 nondailies, and direct marketing and direct-mail operations.

The Star is the latest unit in the chain to make staff reductions, with many newspapers offering buyout deals to cut costs.

[link]

McClatchy’s stock has lost two-thirds of its value on this day last year, and posted a first-quarter loss. Their corporate credit rating is slightly better than that of a crack whore.¹ McClatchy owns not only the Star but the Wichita Eagle as well.

I hate to say this², but the era of the newspaper is over.

1. which I guess means they would have qualified for a $250,000 home loan two years ago. [↩]
2. actually, no, I don’t. I don’t think it’s a bad thing. [↩]

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