Stock Symbol: MNI

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Business Description
The McClatchy Company is engaged primarily in the publication of newspapers in the United States. During the calendar year 2003, the Company published 24 newspapers in four regions of the country: Minnesota, California, the Carolinas and the Northwest (Alaska and Washington). Its newspapers range from large dailies serving metropolitan areas to non-daily newspapers serving small communities. For 2003, McClatchy had an average paid daily circulation of 1,398,589, Sunday circulation of 1,864,685 and non-daily circulation of 61,077. The Company supplements its newspaper publishing with an array of niche products and direct marketing initiatives, including direct mail. It also operates local Websites in each of its daily newspaper markets, offering users information, comprehensive news, advertising, e-commerce and other services. McClatchy also owns and operates Nando Media, an interactive media operation that provides newspapers with content, publishing tools and software development.

Financial Information
For the nine months ended 9/26/04, total revenues increased 6% to $855.2 million. Net income from continuing operations increased 10% to $108.1 million. Revenues reflect an increase in advertising revenues. Earnings also benefitted from reduced interest expense.