September 21, 2018

Your headline "As Wall Street sours on McClatchy ..." disagrees with the story and the truth: We just completed a major refinancing of our debt — a move made possible by confidence in our roadmap and vision.

While you report on our stock price history since 2006, before the recession, it’s important to note the performance more recently. McClatchy shares have improved in value by 30 percent over the lowest trading price in the past 52 weeks.

And we have achieved a major digital milestone. Our digital advertising revenue eclipsed our print advertising revenue for the first time ever — significant progress in our digital transformation, and one we’ve reached earlier than anyone else in our cohort.  

Digital innovation — always a challenge in a transformation — is accelerating: We’re increasing our engagement with key platforms, from our industry-leading launch of Subscribe with Google to the debut of Ground Game: Texas on Facebook Watch, a real-time documentary series that follows the Texas senate race between incumbent Ted Cruz and upstart Beto O’Rourke.

These are challenging times, but they’re also exciting ones as we take aggressive steps into our digital future and stay true to our mission: to deliver strong independent journalism in the public interest that is essential to local communities across the country.  

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