McClatchy reported a first quarter net operating loss of $11.3 million and more deep declines in print advertising today as its stock continues to takes a pummeling.
McClatchy shares have been trading between $1.50 and $1.60 the last several days. That is about half where they were at the start of 2015, and they have lost roughly three-quarters since this time a year ago.
Wall Street values the company at a market capitalization of $135 million, That’s less than $5 million per paper in a collection of 29 titles in 28 cities including the Miami Herald, Kansas City Star and Charlotte Observer. (See clarification below.)