Business & Real Estate

McClatchy adjusts third-quarter financial results

Sacramento-based newspaper publisher McClatchy this week filed a report with the federal Securities and Exchange Commission, updating its third-quarter losses.

On Oct. 16, the publisher of The Sacramento Bee and 29 other newspapers reported a net loss of $238.9 million in this year’s third quarter, with $230.9 million of that total related to after-tax, non-cash charges.

McClatchy said the non-cash charges related to a non-cash deferred tax valuation allowance and non-cash impairments on newspaper mastheads, and certain equity investments.

In its latest SEC filing, the company said its analysis of the deferred tax asset valuation allowance identified an additional non-cash valuation allowance of $21.6 million, which boosted quarterly non-cash after-tax charges to $252.5 million, resulting in an updated quarterly net loss of $260.5 million.

The third-quarter 2017 adjusted net loss remained unchanged from the previously reported $5.9 million.

Mark Glover: 916-321-1184, @markhglover