|Bid||1.0600 x 900|
|Ask||1.1000 x 1100|
|Day's Range||1.0500 - 1.2700|
|52 Week Range||0.2900 - 7.5600|
|Beta (5Y Monthly)||-0.01|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 04, 2020 - Mar 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 07, 2009|
|1y Target Est||1.50|
McClatchy (NYSE American-MNI) announced today that it has entered into a Standstill Agreement with the Pension Benefit Guaranty Corporation (PBGC), extending its current runway for negotiating a consensual restructuring with key stakeholders.
McClatchy (NYSE American-MNI) today disclosed that it will not be releasing certain nonqualified Supplemental Executive Retirement Benefits to a small number of participants at this time as it continues to address its long-term liquidity pressures arising from its qualified pension obligations due in the third quarter of 2020.
The McClatchy Company (NYSE American-MNI) announced today that on December 13, 2019, the NYSE American LLC ("NYSE American") notified the Company that it has accepted the Company's plan to regain compliance with the NYSE American's continued listing standards.
SACRAMENTO, Calif., Nov. 21, 2019 /PRNewswire/ -- McClatchy's West Region Editor, Lauren Gustus, will lead a new company-wide effort as Director of Community Funding Initiatives. In this expanded role, Gustus will be responsible for building community support for important local journalism initiatives through grants, contributions from philanthropic organizations and individuals, and partnerships with local stakeholders and readers. "This expanded role reflects the tremendous work Lauren has had in this space in just the last six months," said Kristin Roberts, vice president of News, in announcing Gustus' role.
Shares of McClatchy Co. sank Wednesday, after the publisher of local newspapers warned that it faced a “liquidity challenge” next year following an unfavorable ruling associated with required contributions to its under-funded pension plan.
The Dow Jones Industrial Average and benchmark S&P500 index both closed at new records Wednesday, helped by a jump in Disney’s stock price, as a five week rally rolled on.
Shares of MClatchy Co. slumped 8.1% in morning trading Wednesday, after the newspaper publisher swung to a third-quarter loss on the back of a large impairment charge, and said it faces a "liquidity challenge" next year. The company, which newspapers include Miami Herald, The Kansas City Star and The Charlotte Observer, reported a net loss of $304.7 million, or $38.43 a share, after net income of $7.0 million, or 90 cents a share, in the year-earlier period. The company said given "challenging business conditions and the resulting weakness in the company's stock price," the company recorded impairment charges of $258.1 million to goodwill and $37.2 million to newspaper mastheads. Revenue fell 12% to $167.4 million, as advertising revenue dropped 19% to $76.8 million. Separately, the company said the Internal Revenue Service has declined the company's request for a three-year waiver of the minimum required pension contribution. McClatchy said its pension plan was underfunded by about $535 million as of March 31, with about $124 million of contributions due over the course of 2020. That amount due "greatly exceeds" anticipated cash available, creating "a significant liquidity challenge" for next year. "The company and its advisors are exploring all available options to address these liquidity pressures," McClatchy said in a statement. The stock has plummeted 66% over the past 12 months, while the S&P 500 has gained 14%.
Negotiating Capital and Pension Restructuring with PBGC and Key Stakeholders - Grew digital-only subscribers to 199,200 and topped 200,000 subscriptions in early October - Increased total paid digital ...
In this article we are going to estimate the intrinsic value of The McClatchy Company (NYSEMKT:MNI) by taking the...
The New York Times Company's (NYT) digital advertising revenues decrease during the third quarter of 2019. Management now expects digital advertising to be "fairly challenging" in the final quarter.
SACRAMENTO, Calif., Nov. 5, 2019 /PRNewswire/ -- McClatchy (NYSE American MNI) announced the launch of an ambitious initiative to cover the 2020 presidential race differently -- by leveraging its local expertise to tell the stories of the voters and communities who will decide this election. Impact2020 will tell a full national story powered by local reporting and offer a standalone politics subscription product for political obsessives who know the election will not be decided inside the Beltway. The plan to cover the 2020 presidential race was announced today by Kristin Roberts, Vice President, News.
Moody's Investors Service ("Moody's") downgraded the Corporate Family Rating ("CFR") for The McClatchy Company ("McClatchy") to Ca from Caa1, and the Probability of Default Rating (PD) to Ca-PD from Caa1-PD primarily due to concerns regarding the company's liquidity position in light of the pending pension plan payments of approximately $120 million in 2020. In addition, Moody's downgraded the company's Senior Secured First Lien Notes due 2026 to Ca from B1. Speculative Grade Liquidity rating is downgraded to SGL-4 from SGL-3.
SACRAMENTO, Calif. , Oct. 30, 2019 /PRNewswire/ -- McClatchy (NYSE American: MNI) announced today that its third quarter earnings conference call will be accessible live to the media and general public ...
YOUNGSTOWN, Ohio, Oct. 10, 2019 /PRNewswire/ -- Mahoning Matters, a digital-only news outlet serving Ohio's Mahoning Valley, launched today. The announcement was made by Mandy Jenkins, general manager of The Compass Experiment, a local news laboratory founded by McClatchy and funded by Google News Initiative's Local Experiments Project. Mahoning Matters will focus on vital topics that impact the daily lives of Mahoning Valley residents -- how local government functions for underserved residents, the impact of business decisions on the economy and the effect of political and business corruption on the Valley's identity and future.
FRESNO, Calif., Sept. 18, 2019 /PRNewswire/ -- The Fresno Bee announces the launch of the Education Lab, an ambitious editorial initiative focusing on education issues critical to the advancement of residents in Fresno and the San Joaquin Valley. Four journalists will join The Bee to cover the topic of education in Fresno and the San Joaquin Valley.
SACRAMENTO, Calif., Sept. 13, 2019 /PRNewswire/ -- The McClatchy Company (NYSE American-MNI) announced today that on September 9, 2019, it received a notice from NYSE American LLC ("NYSE American") indicating that the Company is not currently in compliance with certain listing standards, and as noted below, has approximately 18 months to become compliant under a plan that is subject to approval by NYSE American. McClatchy is below compliance with Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American continued listing standards since it reported stockholders' deficit of $372.5 million as of June 30, 2019 and net losses in each of the four most recent fiscal years ended December 30, 2018.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of McClatchy Company (The) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.