SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
MCCLATCHY WILLIAM ELLERY
(Last) (First) (Middle)
(Street)
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MCCLATCHY CO [ MNI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Assistant Secretary
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 05/15/2003 M 1,875 A 25.75 2,000 D
Class A Common Stock 05/15/2003 M 2,500 A 30 4,500 D
Class A Common Stock 05/15/2003 M 2,500 A 36.7593 7,000 D
Class A Common Stock 05/15/2003 M 1,875 A 30 8,875 D(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (right to buy) 25.75 05/15/2003 M 1 03/01/1998 05/21/2007 Class A Common Stock 469 $0(2) 1,406 D
Option (right to buy) 25.75 05/15/2003 M 1 03/01/1999 05/21/2007 Class A Common Stock 469 $0(2) 937 D
Option (right to buy) 25.75 05/15/2003 M 1 03/01/2000 05/21/2007 Class A Common Stock 469 $0(2) 468 D
Option (right to buy) 25.75 05/15/2003 M 1 03/01/2001 05/21/2007 Class A Common Stock 468 $0(2) 0 D
Option (right to buy) 30 05/15/2003 M 1 03/01/1999 05/21/2008 Class A Common Stock 625 $0(2) 1,875 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2000 05/21/2008 Class A Common Stock 625 $0(2) 1,250 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2001 05/21/2008 Class A Common Stock 625 $0(2) 625 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2002 05/21/2008 Class A Common Stock 625 $0(2) 0 D
Option (right to buy) 36.9375 05/15/2003 M 1 03/01/2000 05/19/2009 Class A Common Stock 625 $0(2) 1,875 D
Option (right to buy) 36.9375 05/15/2003 M 1 03/01/2001 05/19/2009 Class A Common Stock 625 $0(2) 1,250 D
Option (right to buy) 36.9375 05/15/2003 M 1 03/01/2002 05/19/2009 Class A Common Stock 625 $0(2) 625 D
Option (right to buy) 36.9375 05/15/2003 M 1 03/01/2003 05/19/2009 Class A Common Stock 625 $0(2) 0 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2002 05/17/2010 Class A Common Stock 625 $0(2) 1,875 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2003 05/17/2010 Class A Common Stock 625 $0(2) 1,250 D
Option (right to buy) 30 05/15/2003 M 1 03/01/2004 05/17/2010 Class A Common Stock 625 $0(2) 625 D
Explanation of Responses:
1. This report does not include 2,500,000 shares of Class B Common Stock indirectly held by the Trust for the Primary Benefit of William Ellery McClatchy dated November 15, 1974, of which the undersigned is a beneficiary and a successor co-trustee under the terms of the trust, each of which is convertible into Class A Common stock on a one-for-one basis. This report does not include shares of stock held by: (1) Trusts for the Primary Benefit of (a) James B. McClatchy, (b) Sue Maloney Stiles, (c) Martin J. and Mazie Maloney, and (d) Charles K. McClatchy, each dated November 15, 1974, of which the undersigned is a co-trustee pursuant to appointment; and (2) certain trusts established under the Will of Charles K. McClatchy, Deceased, of which the undersigned is a co-trustee pursuant to appointment; as to all of which neither the undersigned nor any member of the undersigned's immediate family, as defined by Rule 16a-1(e), has a pecuniary interest.
2. Director's stock option granted pursuant to The McClatchy Company 1990 Director Option Plan.
William Ellery McClatchy 05/14/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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