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News and Information Article
SAN JOSE, Calif., May 18 /-FirstCall/ -- Three newspapers
acquired at the end of August are included in the 2006 numbers, but not in
the 2005 numbers. Results for Detroit and Tallahassee, which were sold in
the third quarter of 2005, have been excluded from all periods.
Total advertising revenue was up 2.3% for April. Retail was up 1.4%,
national was down 8.6% and classified was up 7.7%. Help wanted was up
10.9%. Real estate was up 18.5% and auto was down 6.0%.
On a pro forma basis, that is, as if the three newspapers acquired in
August had been with the company for April 2005 and 2006, total advertising
revenue was down 1.1%. Retail was down 2.2%, national was down 9.4% and
classified was up 3.1%. Help wanted was up 6.2%. Real estate was up 13.5%
and auto was down 9.3%.
Knight Ridder Chairman and CEO Tony Ridder said, "Our April, like
others in the industry, reflects some softness, particularly in classified,
as a result of the Easter shift. Happily, May -- at least at this early
stage -- is showing stronger results, leaving us optimistic that the month
will reinvigorate the quarter. For the record, the total advertising
revenue at the 20 newspapers that will be retained by McClatchy in the
upcoming sale was up 0.6% in April. Total advertising revenue for the
remaining 12 newspapers was down 3.5%."
The remaining numbers reported are GAAP. Total operating revenue was up
2.3% for the month.
Retail was up 8.9% in San Jose and 3.5% in St. Paul. It was flat in
Miami and Fort Worth. It was off slightly in Philadelphia, but down 4.4% in
Charlotte and 7.9% in Kansas City.
National was up 5.0% in Miami and 6.6% in Charlotte. It was soft in the
other large markets, in a range from down 5.3% in Fort Worth to down 24.6%
in Contra Costa. Philadelphia was down 14.7%.
Classifieds performance was scattered: Up 17.4% in Contra Costa, up
6.4% in Miami, up 4.6% in San Jose, up 2.1% in Fort Worth, but down 1.4% in
Charlotte and down 7.3% in Philadelphia. Help wanted in Philadelphia was
down 20.3%, impacted in part by the Easter shift.
Other revenue was down 2.9%.
Circulation revenue was up 3.0% for the month, but would have been down
1.0% if the acquired newspapers were included in both periods.
Certain statements contained in this report are forward-looking. They
are based on managements current knowledge of factors affecting Knight
Ridders business. Actual results could differ materially from those
currently anticipated, depending upon -- but not limited to -- the pending
acquisition of Knight Ridder by The McClatchy Co., effects of interest
rates, of national and local economies on revenue, of the evolution of the
Internet, of unforeseen changes in the price of newsprint and of
negotiations and relations with labor unions.
Knight Ridder (NYSE: KRI) is one of the nations leading providers of
news, information and advertising, in print and online. The company
publishes 32 daily newspapers in 29 U.S. markets, with a readership of 8.1
million daily and 11.5 million Sunday. It has Web sites in all of its
markets and a variety of investments in Internet and technology companies.
It publishes a growing portfolio of targeted publications and maintains
investments in two newsprint companies. The companys Internet operation,
Knight Ridder Digital, develops and manages the companys online
properties. It is the founder and operator of Real Cities
(http://www.RealCities.com), the largest national network of city and regional Web
sites in more than 110 U.S. markets. Knight Ridder and Knight Ridder
Digital are headquartered in San Jose, Calif. (FR)
On May 10, 2006, McClatchy filed with the SEC a Registration Statement
on Form S-4 (Registration No. 333-133321) containing a final
Prospectus/Proxy Statement/Information Statement regarding the proposed
transaction between McClatchy and Knight Ridder. Investors and security
holders of McClatchy and Knight Ridder are urged to read the
Prospectus/Proxy Statement/Information Statement carefully because it
contains important information about McClatchy, Knight Ridder, the
transaction and related matters. The Prospectus/Proxy Statement/Information
Statement is being mailed on or about May 15, 2006 to stockholders of
McClatchy and shareholders of Knight Ridder. Investors and security holders
can obtain additional free copies of the Registration Statement and the
Prospectus/Proxy Statement/Information Statement and other documents filed
with the SEC by McClatchy and Knight Ridder through the web site maintained
by the SEC at http://www.sec.gov. In addition, investors and security holders can
obtain additional free copies of the Registration Statement and the
Prospectus/Proxy Statement/Information Statement from McClatchy by
contacting Investor Relations at http://www.mcclatchy.com, by mail to 2100 Q
Street, Sacramento, CA 95816 or by telephone at 916-321-1846 or from Knight
Ridder by contacting Investor Relations at http://www.knightridder.com, by mail to
Suite 1500, 50 W. San Fernando St., San Jose, CA 95113 or by telephone at
408-938-7838.
McClatchy and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the shareholders of Knight
Ridder in connection with the proposed transaction between McClatchy and
Knight Ridder. Information regarding the special interests of these
directors and executive officers in the transaction described herein is
included in the Prospectus/Proxy Statement/Information Statement described
above. Additional information regarding these directors and executive
officers is also included in McClatchys proxy statement for its 2006
Annual Meeting of Stockholders, which was filed with the SEC on or about
March 29, 2006. This document is available free of charge at the SECs web
site at http://www.sec.gov and from McClatchy by contacting Investor Relations at
http://www.mcclatchy.com, by mail to 2100 Q Street, Sacramento, CA 95816 or by
telephone at 916-321-1846.
Knight Ridder and its directors and executive officers also may be
deemed to be participants in the solicitation of proxies from the
shareholders of Knight Ridder in connection with the proposed transaction
between McClatchy and Knight Ridder. Information regarding the special
interests of these directors and executive officers in the proposed
transaction between McClatchy and Knight Ridder and additional information
regarding these directors and executive officers is included in the
Prospectus/Proxy Statement/Information Statement described above, which
also serves as Knight Ridders proxy statement for its 2006 Annual Meeting
of Shareholders and was filed by Knight Ridder on May 11, 2006. This
document is available free of charge at the SECs web site at http://www.sec.gov
and from Knight Ridder by contacting Investor Relations at
http://www.knightridder.com, by mail to Suite 1500, 50 W. San Fernando St., San
Jose, CA 95113 or by telephone at 408-938-7838.
STATISTICAL REPORT - PRO FORMA
For the period of 03/27/06 - 04/30/06
April Percent Year-to-Date Percent
REVENUE ($000) 2006 2005 Change 2006 2005 Change
Advertising
- Note 1
Retail 104,725 107,036 -2.2% 357,061 361,372 -1.2%
National 31,187 34,435 -9.4% 118,216 130,098 -9.1%
Classified 95,576 92,661 3.1% 338,872 319,397 6.1%
Total 231,488 234,132 -1.1% 814,149 810,867 0.4%
Circulation 51,738 52,269 -1.0% 187,651 189,774 -1.1%
Other Revenue 8,025 8,366 -4.1% 29,339 30,050 -2.4%
Total Operating
Revenue 291,251 294,767 -1.2% 1,031,139 1,030,691 0.0%
AVERAGE CIRCULATION
(000s of copies)
- Note 1
Morning 3,105 3,271 -5.1% 3,138 3,290 -4.6%
Evening 147 155 -5.6% 149 158 -6.0%
Daily 3,252 3,426 -5.1% 3,269 3,448 -5.2%
Sunday 4,240 4,378 -3.1% 4,262 4,440 -4.0%
ADVERTISING LINAGE
(000s of six-column
inches) - Notes 1 & 2
Full-Run ROP
Retail 1,275.5 1,409.6 -9.5% 4,409.1 4,830.1 -8.7%
National 259.3 296.5 -12.6% 976.8 1,121.3 -12.9%
Classified 1,841.8 1,875.0 -1.8% 6,409.1 6,438.0 -0.4%
Total 3,376.6 3,581.1 -5.7% 11,795.0 12,389.4 -4.8%
Factored Part-Run
ROP 257.6 263.3 -2.2% 849.1 845.4 0.4%
TOTAL PREPRINTS
INSERTED 763,490 758,042 0.7% 2,644,113 2,586,520 2.2%
Statistical Report - Pro Forma
For the period of 03/27/06 - 04/30/06
FULL-RUN ROP April Percent Year-to-Date Percent
ADVERTISING LINAGE 2006 2005 Change 2006 2005 Change
DATA
By Markets (000s of
six-column inches)
- Note 2
Akron Beacon Journal 113.0 142.7 -20.8% 400.0 489.2 -18.2%
Charlotte Observer 140.2 150.7 -7.0% 489.6 532.4 -8.0%
Columbia State 107.7 101.0 6.6% 393.4 363.8 8.1%
Contra Costa 136.2 136.2 0.0% 492.6 479.0 2.8%
Fort Wayne
News-Sentinel,
Journal Gazette 125.0 143.1 -12.6% 425.7 467.2 -8.9%
Fort Worth Star
Telegram 201.5 201.2 0.1% 709.8 707.7 0.3%
Kansas City Star 169.6 194.4 -12.8% 598.1 651.4 -8.2%
Lexington
Herald-Leader 112.3 109.8 2.3% 370.1 367.0 0.8%
Miami Herald &
el Nuevo Herald 210.8 210.2 0.3% 780.7 732.0 6.7%
Philadelphia
Newspapers 196.7 200.1 -1.7% 694.3 731.1 -5.0%
St. Paul Pioneer
Press 98.1 112.2 -12.6% 343.3 400.3 -14.2%
San Jose Mercury
News 181.6 206.5 -12.1% 670.1 721.3 -7.1%
Wichita Eagle 90.5 100.3 -9.8% 318.9 330.7 -3.6%
All Other Dailies 1,493.4 1,572.7 -5.0% 5,108.4 5,416.3 -5.7%
Total - Full-Run
ROP 3,376.6 3,581.1 -5.7% 11,795.0 12,389.4 -4.8%
Note 1 - Pro forma numbers includes Boise, Olympia and Bellingham for all
periods as if they had been purchased in January 2005.
Note 2 - Measured by individual Knight Ridder newspapers. Where necessary,
certain previously reported linage has been restated to be consistent with
measurement guidelines currently in use.
STATISTICAL REPORT - GAAP
For the period of 03/27/06 - 04/30/06
April Percent Year-to-Date Percent
REVENUE ($000) 2006 2005 Change 2006 2005 Change
Advertising
Retail 104,725 103,290 1.4% 357,061 348,751 2.4%
National 31,187 34,139 -8.6% 118,216 129,198 -8.5%
Classified 95,576 88,777 7.7% 338,872 306,335 10.6%
Total 231,488 226,206 2.3% 814,149 784,284 3.8%
Circulation 51,738 50,240 3.0% 187,651 182,510 2.8%
Other Revenue 8,025 8,262 -2.9% 29,339 29,688 -1.2%
Total Operating
Revenue 291,251 284,708 2.3% 1,031,139 996,482 3.5%
AVERAGE CIRCULATION
(000s of copies
including Boise,
Olympia and
Bellingham for
all periods) - Note 1
Morning 3,105 3,271 -5.1% 3,138 3,290 -4.6%
Evening 147 155 -5.6% 149 158 -6.0%
Daily 3,252 3,426 -5.1% 3,269 3,448 -5.2%
Sunday 4,240 4,378 -3.1% 4,262 4,440 -4.0%
ADVERTISING LINAGE
(000s of
six-column inches)
- Note 2
Full-Run ROP
Retail 1,275.5 1,284.2 -0.7% 4,409.1 4,388.0 0.5%
National 259.3 289.4 -10.4% 976.8 1,098.7 -11.1%
Classified 1,841.8 1,744.0 5.6% 6,409.1 5,981.9 7.1%
Total 3,376.6 3,317.6 1.8% 11,795.0 11,468.6 2.8%
Factored Part-Run
ROP 257.6 263.3 -2.2% 849.1 845.4 0.4%
TOTAL PREPRINTS
INSERTED 763,490 758,012 0.7% 2,644,113 2,586,419 2.2%
Statistical Report - GAAP
For the period of 03/27/06 - 04/30/06
FULL-RUN ROP April Percent Year-to-Date Percent
ADVERTISING LINAGE 2006 2005 Change 2006 2005 Change
DATA
By Markets (000s of
six-column inches)
- Note 2
Akron Beacon Journal 113.0 142.7 -20.8% 400.0 489.2 -18.2%
Charlotte Observer 140.2 150.7 -7.0% 489.6 532.4 -8.0%
Columbia State 107.7 101.0 6.6% 393.4 363.8 8.1%
Contra Costa 136.2 136.2 0.0% 492.6 479.0 2.8%
Fort Wayne
News-Sentinel,
Journal Gazette 125.0 143.1 -12.6% 425.7 467.2 -8.9%
Fort Worth Star
Telegram 201.5 201.2 0.1% 709.8 707.7 0.3%
Kansas City Star 169.6 194.4 -12.8% 598.1 651.4 -8.2%
Lexington
Herald-Leader 112.3 109.8 2.3% 370.1 367.0 0.8%
Miami Herald & el
Nuevo Herald 210.8 210.2 0.3% 780.7 732.0 6.7%
Philadelphia
Newspapers 196.7 200.1 -1.7% 694.3 731.1 -5.0%
St. Paul Pioneer
Press 98.1 112.2 -12.6% 343.3 400.3 -14.2%
San Jose Mercury
News 181.6 206.5 -12.1% 670.1 721.3 -7.1%
Wichita Eagle 90.5 100.3 -9.8% 318.9 330.7 -3.6%
All Other Dailies 1,493.4 1,309.2 14.1% 5,108.4 4,495.5 13.6%
Total - Full-Run
ROP 3,376.6 3,317.6 1.8% 11,795.0 11,468.6 2.8%
Note 1 - Includes circulation copies for Boise, Olympia and Bellingham for
all periods.
Note 2 - Measured by individual Knight Ridder newspapers. Where necessary,
certain previously reported linage has been restated to be consistent with
measurement guidelines currently in use.
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