Gannett Sells ‘The Farmington Daily Times’ To Ballantine (mediapost.com)

Certain funds affiliated with Chatham Asset Management, LLC announced that they have completed the previously announced acquisition of substantially all assets of The McClatchy Company. The new company will retain The McClatchy Company name. The transaction significantly strengthens the Company’s balance sheet so that it can deliver on its mission to provide essential, independent journalism to local communities across the United States. This milestone marks the official completion of the acquisition of the Company's assets and the successful transition of these assets from Chapter 11. As of September 4, 2020, the entirety of McClatchy’s 30 news organizations and all of its employees transitioned to a new private entity under Chatham ownership.

Total Company net sales for the three months ended January 31, 2023, increased 3.9% to a record $1.38 billion. Total Retail segment net sales increased 2%, with comparable Retail segment net sales increasing 3%, partially offset by a 1% negative impact of foreign currency translation. The increase in Retail segment comparable net sales was driven by mid- single-digit positive growth in retail store sales and low single-digit positive growth in digital channel sales. By brand, comparable Retail segment net sales increased 15% at the Free People Group and 9% at the Anthropologie Group and decreased 10% at Urban Outfitters. Wholesale segment net sales decreased 7% driven by a 13% decrease in Free People Group wholesale sales due to a decrease in sales to department stores partially offset by growth in specialty and close out account partners, while Urban Outfitters wholesale sales increased by $3 million. Nuuly segment net sales increased by $25.5 million driven by a 149% increase in our subscribers as of the current quarter end versus the end of the prior year’s comparable quarter.

Total revenues for the first quarter of 2018 increased 3.8 percent to $413.9 million from $398.8 million in the first quarter of 2017. Subscription revenues increased 7.5 percent, while advertising revenues decreased 3.4 percent and other revenues increased 5.0 percent. Operating costs increased in the first quarter of 2018 to $378.0 million compared with $368.6 million in the first quarter of 2017, largely due to higher compensation costs, which was partially offset by lower print production and distribution costs. Adjusted operating costs increased to $358.5 million from $348.6 million in the first quarter of 2017. Click Read More below for additional information.