8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report:  September 27, 2009

The McClatchy Company

(Exact name of registrant as specified in its charter)

DELAWARE	1-9824	52-2080478
(state or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

2100 Q Street

Sacramento CA  95816

(Address of principal executive offices, zip code)

Registrant's telephone number, including area code (916) 321-1846

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (l7 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (l7 CFR 240-14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (l7 CFR 240.13e-4(c))

Item 9.01	Financial Statements and Exhibits
	(c)   Exhibits
	99.1	Text of press release issued by The McClatchy Company dated October 15, 2009, “McClatchy Reports Third Quarter 2009 Earnings.”

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

October 15, 2009	The McClatchy Company
	By:	/s/ Patrick J. Talamantes
		Patrick J. Talamantes Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

McCLATCHY REPORTS THIRD QUARTER 2009 EARNINGS

·    Earnings per share for the quarter were 28 cents and adjusted earnings from continuing operations (1) were 13 cents per share

·   Cash expenses were down by 29.4% from third quarter 2008 excluding restructuring-related charges

·   Operating cash flow increased from third quarter 2008 excluding restructuring-related charges

    SACRAMENTO, Calif., Oct.15, 2009 – The McClatchy Company (NYSE-MNI) today reported net income from continuing operations in the third quarter of 2009 of $23.6 million, or 28 cents per share, compared to $4.2 million, or 5 cents per share, in the 2008 quarter. Adjusted earnings from continuing operations(1) were $11.0 million, or 13 cents per share, in the third quarter of 2009 after excluding the unusual items discussed below, compared to $10.4 million, or 13 cents per share, reported in the third quarter of 2008. The company noted that its adjusted earnings in the third quarter of 2009 were negatively impacted by a refinement to its projected annual tax rate. The Company’s tax rate in the third quarter of 2009 was 61.8%.

Unusual items affecting the third quarter results from continuing operations in each year are discussed below and are included in adjusted earnings from continuing operations.(1)

Revenues in the third quarter of 2009 were $347.4 million, down 23.1% from the third quarter of 2008.  Advertising revenues were $266.1 million, down 28.1% from 2008, and circulation revenues were $69.0 million, up 6.7%.  Online advertising revenues grew 3.1% in the third quarter of 2009 and were 17.6% of total advertising revenues compared to 12.2% of total advertising revenues in the third quarter of 2008.

Cash expenses, excluding severance associated with restructuring plans, declined $105.5 million, or 29.4% from the 2008 quarter.  Operating cash flow, a non-GAAP measure, was $94.4 million, up 1.3% (non-GAAP measurements are discussed below).

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First Nine Months Results:

Income from continuing operations for the first nine months of 2009 was $27.9 million, or 33 cents per share, and was affected by the impact of the unusual items discussed below. Adjusted earnings from continuing operations(1) were $11.0 million, or 13 cents per share, in the first nine months of 2009.

Income from continuing operations for the first nine months of 2008 was $23.2 million, or 28 cents per share, and was affected by the impact of the unusual items discussed below. Adjusted earnings from continuing operations (1) were $26.4 million, or 32 cents per share, in the first nine months of 2008.

Revenues from continuing operations in the first nine months of 2009 were down 24.6% to $1.1 billion compared to $1.4 billion in 2008.  Advertising revenues in 2009 totaled $834.5 million, down 29.3%, and circulation revenues were $206.9 million, up 4.2%.

Management’s Comments:

Commenting on McClatchy’s results, Gary Pruitt, chairman and chief executive officer, said, “Our advertising revenues in the third quarter showed some improvement from the second-quarter decline.  Importantly, we reported growth in our online advertising revenues.  Online advertising revenues were up 3.1% compared to the third quarter of 2008.  Excluding employment advertising, a category that has been impacted both online and in print by the nationwide decline in jobs, online advertising revenues were up 28.4% in the quarter and up 27.2% year-to-date.

“Our transition to a successful hybrid print and online company continues to advance. Our online audiences are growing strongly. Average monthly unique visitors to our websites were up 14.7% in the third quarter and were up 23.4% through the first nine months of 2009.  We continue to be among the leaders in our industry in online advertising revenue performance and online advertising as a percentage of total advertising.  In the third quarter, online advertising represented 17.6% of McClatchy’s total advertising revenue.  That was up from the 16.5% reported in the second quarter of 2009 and up from the 12.2% reported in the third quarter of 2008.”

“The declines in print advertising are undeniably challenging for our company, and the resulting restructuring of our business has been necessary to align expenses with these new revenue realities,” said Pruitt.  “While painful, this restructuring is clearly contributing to our ability to manage the company through this downturn by enabling us to grow cash flow in the third quarter and reduce debt.

“The advertising declines we’ve experienced show some signs of slowing, but the ad environment remains weak overall.  As a result, we expect print advertising revenues to continue to decline in the fourth quarter.  So far in October, we’re seeing advertising revenue trends similar to the third quarter.

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“We still have a lot of hard work ahead of us.  As long as we are experiencing revenue declines, we must maintain a tight rein on expenses.  We expect to hold costs down in the mid-twenty percent range in the fourth quarter.

“We face these uncertain times with the resolve and confidence of a company that has successfully adapted to many economic downturns and media competitors over our 152-year history.  We will continue to serve our communities with high quality journalism, and we will continue to aggregate audiences and serve the needs of our local and national advertisers, both online and in print.”

Pat Talamantes, McClatchy’s chief financial officer, said, “We completed the quarter with debt principal outstanding of $1.99 billion, down $134.3 million from the end of 2008. Based on our trailing 12 months of cash flow, our leverage ratio, as defined under our credit agreement, improved for the second consecutive quarter to 5.7 times at the end of the third quarter, and our interest coverage ratio was 2.8 times.  Both of these ratios are well within the covenant requirements under our credit agreement of a leverage ratio of less than 7.0 times and an interest coverage ratio of greater than 2.0 times. At the end of the quarter, we had approximately $172.0 million available under our bank credit line.”

(1) Adjusted Earnings From Continuing Operations and EPS:

Earnings in the third quarter and nine months of 2009 and 2008 included the impact of several unusual events including:

2009 transactions and events:

·   In March 2009, the company announced restructuring efforts which included, among other things, reducing its workforce by approximately 15%, freezing the company’s pension plans and temporarily suspending the company’s matching contribution to its 401(k) plan as of March 31, 2009.

·   On May 21, 2009, the company launched a private debt exchange offer for all of its outstanding debt securities for a combination of cash and new debt securities. The offer closed on June 25, 2009, and the company exchanged $3.4 million in cash and $24.2 million of newly issued senior notes for $102.8 million of debt securities. The company recorded a gain on the transaction in the second quarter.

·   In connection with the exchange offer described above, the company entered into an agreement with its lenders on May 20, 2009, to amend its credit agreement which, among other things, allows it to use up to $60 million of its revolving credit facility to repurchase its unsecured notes due in 2011 or unsecured notes due in 2014, subject to certain conditions. As a result the company wrote off a portion of its original financing costs related to its credit agreement in the second quarter.

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·   During the second quarter of 2009, the company recorded $10.6 million of accelerated depreciation on production equipment resulting from the outsourcing of printing at several of its newspapers.

·   The company recorded additional closing adjustments which impacted the gain on the 2008 sale of SP Newsprint Company of which McClatchy was a one-third owner.  The company received $60 million in proceeds from this sale ($5 million in 2009), which was used to repay debt.

·   The company refined its estimate of its projected effective annual tax rate and applied the revised rate to the unusual items resulting in an adjustment in the third quarter of 2009.

2008 transactions and events:

·   In May 2008, the company purchased $300 million aggregate principal amount of its outstanding publicly-traded debt securities for $282.4 million. The company recorded a gain on the transaction in the second quarter of 2008.

·   On June 16, 2008 and again on September 16, 2008, the company announced restructuring plans to permanently reduce its workforce which reductions were implemented in the second and third quarters of 2008.

·   On June 30, 2008, the company sold its 15.0% interest in ShopLocal, LLC for $7.875 million and used the proceeds to reduce debt and recorded a write-off in the second quarter of 2008 related to ShopLocal’s carrying value. In addition, one of the internet companies in which McClatchy has an investment incurred an impairment charge on a product and as a result, the company recognized a charge related to this investment in the second quarter.

·   In March and September 2008 the company obtained amendments to its credit agreement which provided greater flexibility for the life of the credit facility in the allowable leverage and interest coverage ratios, the two primary financial covenants contained in the agreement. As a result the company wrote off a portion of its original financing costs related to its credit agreement in the first and third quarters of 2008.

Both the 2009 and 2008 second quarters included charges for certain discrete tax items.

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The impact of these items on the 2009 and 2008 results are summarized below (dollars in thousands, except per share amounts):

	Three Months Ended						Nine Months Ended
	September 27, 2009			September 28, 2008			September 27, 2009			September 28, 2008
(Dollars in thousands, except per share amounts)
Income from continuing operations	$	23,601		$	4,167		$	27,880		$	23,225
Unusual items, net of tax:
Sale of SP Newsprint Company interest		(999	)		(1,809	)		(503	)		(21,785	)
Gain on extinguishment of debt		430			(80	)		(27,902	)		(12,455	)
Restructuring related charges		516			7,551			9,584			18,960
Impairment related charges		-			1,962			-			15,498
Accelerated depreciation on equipment		-			-			4,034			-
Write-off of financing costs		-			157			140			1,660
Impact of revised projected annual tax rate		(11,245	)		-			-			-
Certain discrete tax items		(1,334	)		(1,538	)		(2,264	)		1,313
Adjusted income from continuing operations	$	10,969		$	10,410		$	10,969		$	26,416
Earnings per share:
Income from continuing operations	$	0.28		$	0.05		$	0.33		$	0.28
Adjusted income from continuing operations	$	0.13		$	0.13		$	0.13		$	0.32

Non-GAAP Financial Measures:

In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”) included in this press release the company has provided information regarding operating income, non-operating expenses and income, income taxes, net income and diluted earnings per share (EPS) excluding certain special or unusual items described in the table above. In addition the company has presented operating cash flows (defined as operating income plus depreciation and amortization, non-cash impairment charges included in operating income and restructuring related charges) along with operating cash flow margins (operating cash flow divided by net revenues) which are reconciled to GAAP measures in an attached schedule. Management believes these non-GAAP measures, when read in conjunction with the company’s GAAP financials, provide useful information to investors by offering:

• the ability to make more meaningful period-to-period comparisons of the company’s on-going operating results;

• the ability to better identify trends in the company’s underlying business;

• a better understanding of how management plans and measures the Company’s underlying business; and

• an easier way to compare the company’s most recent results of operations against investor and analyst financial models.

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Operating income, non-operating expenses and income, income taxes, net income and diluted earnings per share (EPS) excluding certain special or unusual items should not be considered a substitute or an alternative to these computations calculated in accordance with and required by GAAP. Nor are operating cash flow and operating cash flow margins to be considered replacements for cash provided by operating activities as shown in the company’s statement of cash flows.

The company’s statistical report, which summarizes revenue performance for the third fiscal quarter and first nine months of 2009, follows.

At noon Eastern Time today, McClatchy will review its results in a conference call (877-278-1205 pass code 30121301) and webcast (www.mcclatchy.com).  The webcast will be archived at McClatchy’s website.

About McClatchy

The McClatchy Company is the third largest newspaper company in the United States, with 30 daily newspapers, approximately 50 non-dailies, and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which extend its audience reach. The websites offer users comprehensive news and information, advertising, e-commerce and other services. Together with its newspapers and direct marketing products, these interactive operations make McClatchy the leading local media company in each of its premium high growth markets. McClatchy-owned newspapers include The Miami Herald, The Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The News & Observer (Raleigh).

McClatchy also owns a portfolio of premium digital assets, including 14.4% of CareerBuilder, the nation's largest online job site, 25.6% of Classified Ventures, a newspaper industry partnership that offers two of the nation's premier classified websites: the auto website, cars.com, and the rental site, Apartments.com and 33.3% of HomeFinder, LLC which operates the real estate website HomeFinder.com. McClatchy is listed on the New York Stock Exchange under the symbol MNI.

Additional Information:

Statements in this press release regarding future financial and operating results, including revenues, anticipated savings from cost reduction efforts, future dividend payments, cash flows, debt levels, as well as future opportunities for the company and any other statements about management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements.  There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including:  the duration and depth of the economic recession

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may reduce its income and cash flow greater than expected; McClatchy may not generate cash from operations, or otherwise, necessary to reduce debt as expected; McClatchy may not consummate contemplated transactions to enable debt reduction on anticipated terms or at all; McClatchy may not achieve its expense reduction targets or may do harm to its operations in attempting to achieve such targets; McClatchy’s operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; McClatchy’s expense and income levels could be adversely affected by changes in the cost of newsprint and McClatchy’s operations could be negatively affected by any deterioration in its labor relations, bankruptcies or financial strain of its major advertising customers; McClatchy’s ability to maintain compliance with NYSE listing standards, including the NYSE  share price standard and compliance with its market capitalization and stockholders’ equity standards; as well as the other risks detailed from time to time in the Company’s publicly filed documents, including the Company’s Annual Report on Form 10-K for the year ended December 28, 2008, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release.

######

7

***THE McCLATCHY COMPANY***
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)
	Three Months Ended						Nine Months Ended
	Sept 27,			Sept 28,			Sept 27,			Sept 28,
	2009			2008			2009			2008
REVENUES - NET:
Advertising	$	266,120		$	370,117		$	834,470		$	1,180,468
Circulation		69,029			64,691			206,860			198,610
Other		12,241			16,812			37,020			50,508
		347,390			451,620			1,078,350			1,429,586
OPERATING EXPENSES:
Compensation		130,048			199,861			453,483			647,771
Newsprint and supplements		33,312			61,815			133,183			186,462
Depreciation and amortization		32,678			35,479			110,685			108,510
Other operating expenses		90,985			113,828			286,706			345,757
		287,023			410,983			984,057			1,288,500
OPERATING INCOME		60,367			40,637			94,293			141,086
NON-OPERATING (EXPENSES) INCOME:
Interest expense		(34,549	)		(34,195	)		(102,775	)		(116,140	)
Interest income		9			761			46			1,332
Equity income (losses) in unconsolidated companies, net		4,379			(850	)		3,635			(14,340	)
Gain on extinguishment of debt		(680	)		180			44,149			19,680
Gain on Sale of SP Newsprint		999			2,570			214			34,546
Impairment on internet investments and land held for sale		-			(2,983	)		-			(24,498	)
Other - net		20			101			(314	)		1,120
		(29,822	)		(34,416	)		(55,045	)		(98,300	)
INCOME FROM CONTINUING OPERATIONS
BEFORE INCOME TAX PROVISION		30,545			6,221			39,248			42,786
INCOME TAX PROVISION		6,944			2,054			11,368			19,561
INCOME FROM CONTINUING OPERATIONS		23,601			4,167			27,880			23,225
INCOME (LOSS) FROM DISCONTINUED OPERATIONS -
NET OF INCOME TAXES		(38	)		67			381			(175	)
NET INCOME	$	23,563		$	4,234		$	28,261		$	23,050
NET INCOME PER COMMON SHARE:
Basic:
Income from continuing operations	$	0.28		$	0.05		$	0.33		$	0.28
Income from discontinued operation		-			-			-			-
Net income per share	$	0.28		$	0.05		$	0.33		$	0.28
Diluted:
Income from continuing operations	$	0.28		$	0.05		$	0.33		$	0.28
Income from discontinued operations		-			-			-			-
Net income per share	$	0.28		$	0.05		$	0.33		$	0.28
WEIGHTED AVERAGE NUMBER OF COMMON SHARES:
Basic		84,052			82,382			83,565			82,274
Diluted		84,061			82,434			83,579			82,327
See notes to consolidated financial statements.

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***THE McCLATCHY COMPANY***
Reconciliation of GAAP Measures to Non-GAAP Amounts
(In thousands)
	Three Months Ended				Nine Months Ended
	Sept 27,		Sept 28,		Sept 27,		Sept 28,
	2009		2008		2009		2008
REVENUES - NET:
Advertising	$	266,120	$	370,117	$	834,470	$	1,180,468
Circulation		69,029		64,691		206,860		198,610
Other		12,241		16,812		37,020		50,508
		347,390		451,620		1,078,350		1,429,586
OPERATING EXPENSES:
Compensation excluding restructuring charges		128,698		182,818		428,388		605,320
Newsprint and supplements		33,312		61,815		133,183		186,462
Other cash operating expenses		90,985		113,828		286,706		345,521
Cash operating expenses excluding
restructuring charges		252,995		358,461		848,277		1,137,303
Restructuring related compensation		1,350		17,043		25,095		42,451
Non-cash impairment charge		-		-		-		236
Depreciation and amortization		32,678		35,479		110,685		108,510
Total operating expenses		287,023		410,983		984,057		1,288,500
OPERATING INCOME		60,367		40,637		94,293		141,086
Add back:
Depreciation and amortization		32,678		35,479		110,685		108,510
Non-cash impairment charge		-		-		-		236
Restructuring related compensation charges		1,350		17,043		25,095		42,451
OPERATING CASH FLOW	$	94,395	$	93,159	$	230,073	$	292,283

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***The McClatchy Company***
Consolidated Statistical Report
(In thousands, except for preprints)
	Quarter 3
	Combined							Print Only							Online Only
Revenues - Net:	2009		2008		% Change			2009		2008		% Change			2009		2008		% Change
Advertising
Retail	$	139,462	$	181,416		-23.1	%	$	121,790	$	170,207		-28.4	%	$	17,672	$	11,209		57.7	%
National		24,097		33,485		-28.0	%		18,668		29,495		-36.7	%		5,429		3,990		36.1	%
Classified Total		75,641		121,431		-37.7	%		52,027		91,298		-43.0	%		23,614		30,133		-21.6	%
Automotive		22,050		33,406		-34.0	%		13,745		24,973		-45.0	%		8,305		8,433		-1.5	%
Real Estate		17,201		30,099		-42.9	%		12,903		25,560		-49.5	%		4,298		4,539		-5.3	%
Employment		14,105		35,024		-59.7	%		6,615		20,233		-67.3	%		7,490		14,791		-49.4	%
Other		22,285		22,902		-2.7	%		18,764		20,532		-8.6	%		3,521		2,370		48.6	%
Direct Marketing		26,473		33,389		-20.7	%		26,473		33,389		-20.7	%
Other Advertising		447		397		12.6	%		447		397		12.6	%
Total Advertising	$	266,120	$	370,118		-28.1	%	$	219,405	$	324,786		-32.4	%	$	46,715	$	45,332		3.1	%
Circulation		69,029		64,690		6.7	%
Other		12,241		16,812		-27.2	%
Total Revenues	$	347,390	$	451,620		-23.1	%
Advertising Revenues by Market:
California	$	48,542	$	68,814		-29.5	%	$	40,473	$	61,188		-33.9	%	$	8,069	$	7,626		5.8	%
Florida		36,507		50,321		-27.5	%		29,580		44,242		-33.1	%		6,927		6,079		13.9	%
Texas		30,287		40,766		-25.7	%		25,431		36,795		-30.9	%		4,856		3,971		22.3	%
Southeast		76,992		108,495		-29.0	%		63,683		94,175		-32.4	%		13,309		14,320		-7.1	%
Midwest		43,805		57,604		-24.0	%		35,587		49,611		-28.3	%		8,218		7,993		2.8	%
Northwest		29,965		43,980		-31.9	%		24,651		38,775		-36.4	%		5,314		5,205		2.1	%
Other		22		138		-84.1	%		0		0		0.0	%		22		138		-84.1	%
Total Advertising	$	266,120	$	370,118		-28.1	%	$	219,405	$	324,786		-32.4	%	$	46,715	$	45,332		3.1	%
Advertising Statistics for Dailies:
Full Run ROP Linage									5,204.2		6,677.3		-22.1	%
Millions of Preprints Distributed									1,294.5		1,643.1		-21.2	%
Average Paid Circulation:*
Daily									2,174.7		2,490.4		-12.7	%
Sunday									2,840.1		3,140.5		-9.6	%
Columns may not add due to rounding
* Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.

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***The McClatchy Company***
Consolidated Statistical Report
(In thousands, except for preprints)
	September Year-to-Date
	Combined							Print Only							Online Only
Revenues - Net:	2009		2008		% Change			2009		2008		% Change			2009		2008		% Change
Advertising
Retail	$	436,719	$	568,670		-23.2	%	$	386,228	$	535,683		-27.9	%	$	50,491	$	32,987		53.1	%
National		75,791		108,392		-30.1	%		59,952		96,467		-37.9	%		15,839		11,925		32.8	%
Classified Total		237,350		396,786		-40.2	%		166,834		302,693		-44.9	%		70,516		94,093		-25.1	%
Automotive		69,551		104,790		-33.6	%		45,310		80,151		-43.5	%		24,242		24,638		-1.6	%
Real Estate		55,631		99,934		-44.3	%		42,660		86,868		-50.9	%		12,971		13,066		-0.7	%
Employment		46,447		121,888		-61.9	%		23,435		72,371		-67.6	%		23,012		49,516		-53.5	%
Other		65,720		70,174		-6.3	%		55,429		63,302		-12.4	%		10,290		6,872		49.7	%
Direct Marketing		83,284		105,408		-21.0	%		83,284		105,408		-21.0	%
Other Advertising		1,326		1,212		9.4	%		1,326		1,212		9.4	%
Total Advertising	$	834,470	$	1,180,468		-29.3	%	$	697,624	$	1,041,463		-33.0	%	$	136,846	$	139,005		-1.6	%
Circulation		206,860		198,610		4.2	%
Other		37,020		50,508		-26.7	%
Total Revenues	$	1,078,350	$	1,429,586		-24.6	%
Advertising Revenues by Market:
California	$	151,723	$	212,328		-28.5	%	$	128,156	$	189,978		-32.5	%	$	23,567	$	22,348		5.5	%
Florida		120,163		171,292		-29.8	%		99,674		152,290		-34.5	%		20,489		19,002		7.8	%
Texas		93,550		129,857		-28.0	%		79,273		117,736		-32.7	%		14,277		12,121		17.8	%
Southeast		240,124		345,775		-30.6	%		199,830		301,156		-33.6	%		40,294		44,619		-9.7	%
Midwest		135,576		182,837		-25.8	%		112,887		159,033		-29.0	%		22,689		23,804		-4.7	%
Northwest		93,256		137,494		-32.2	%		77,804		121,268		-35.8	%		15,452		16,226		-4.8	%
Other		78		885		-91.2	%		0		0		0.0	%		78		885		-91.2	%
Total Advertising	$	834,470	$	1,180,468		-29.3	%	$	697,624	$	1,041,461		-33.0	%	$	136,846	$	139,005		-1.6	%
Advertising Statistics for Dailies:
Full Run ROP Linage									15,930.8		20,840.9		-23.6	%
Millions of Preprints Distributed									3,978.1		4,750.3		-16.3	%
Average Paid Circulation:*
Daily									2,315.9		2,610.5		-11.3	%
Sunday									2,967.0		3,233.6		-8.2	%
Columns may not add due to rounding
* Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.

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