McClatchy reports higher profits from investments

Published: Friday, Dec. 20, 2013 - 3:33 pm

The McClatchy Co. said Friday it has received $42.4 million in cash distributions from its equity investments this year, up from $38.6 million a year ago.

Sacramento-based McClatchy, which owns The Bee, said it received $13.5 million from CareerBuilder LLC on Friday and $23 million from Classified Ventures LLC earlier in the week. The company received smaller distributions earlier in the year from other investments.

McClatchy owns 15 percent of CareerBuilder, which runs an online help-wanted site, and 25.6 percent of Classified Ventures, owner of Cars.com and Apartments.com.

Shares of McClatchy closed at $3, down 7 cents, on the New York Stock Exchange.

Read more articles by Dale Kasler





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