Romenesko

Editor & Publisher
McClatchy CEO Gary Pruitt tells his employees in a video message that the chain may not have reached bottom. "At this point we simply can't tell when this decline will end," he says. "We must continue to cut costs. It's no fun, but we have no choice. We will continue to do this in the McClatchy way -- sensibly, humanely, and with an eye to the future." He adds that paying down debt "is simply the best way to keep our company safe in these times. And don't worry -- McClatchy is decidedly not going bankrupt."