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McClatchy Reports November 2006 Revenues

Released 12/06/2006

The McClatchy Company (NYSE: MNI) today reported that consolidated advertising revenues in November 2006 decreased 4.7% and total revenues declined 4.3% compared to pro forma revenues (including the addition of the 20 newspapers purchased and retained in the Knight Ridder acquisition). Year-to-date pro forma advertising revenues were up 0.1% and total pro forma revenues were down 0.6%.

Gary Pruitt, chairman and CEO of McClatchy, said, "As we look to next year we expect strength in internet operations and direct marketing, offset by lower advertising in our print products. Among core revenue categories, we expect classified to continue to be challenged as automotive stabilizes, but real estate and employment advertising continues to decelerate. Retail may still be choppy in 2007, but we expect it to show some growth. Taken together, we anticipate advertising revenues on a pro forma basis to be down in the first half. We don't have enough visibility right now to project revenue trends in the second half of 2007 with any confidence, but rest assured that we will be innovative in our sales strategies no matter the economic climate or secular changes taking place.

"Lower newsprint prices and our continued vigilance in all other expenses will help us reduce costs in 2007 on a pro forma basis. We will continue to integrate our digital operations, move all newspapers onto the same purchasing, accounting and payroll systems and use our larger size to exact the best pricing available for services and products."

Mr. Pruitt also noted that, "We expect debt at year-end to be approximately $3.3 billion. We are focused on paying down our bank debt as quickly as possible, and as we continue to reduce debt we will create leveraged equity returns for our shareholders."

McClatchy will review its business in a presentation today at the CSFB Global Media Conference at the Crowne Plaza Times Square Hotel in New York City at 9:40 AM. The presentation will be webcast live on its site, http://www.mcclatchy.com and on http://www.csfb.com . The webcast of McClatchy's presentation, as well as a reconciliation of non-GAAP measurements to GAAP measurements, will continue to be archived at its web site for future reference.

The McClatchy Company is the second-largest newspaper company in the United States, with 32 daily newspapers and approximately 50 non-dailies. McClatchy owned newspapers include the (Minneapolis) Star Tribune, The Miami Herald, The Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer. In addition, McClatchy has a robust network of internet assets, including leading local websites in each of its daily newspaper markets, offering users information, comprehensive news, advertising, e-commerce and other services. The company also owns and operates McClatchy Interactive, an interactive operation that provides websites with content, publishing tools and software development; Real Cities (http://www.RealCities.com ), the largest national advertising network of local news websites, including more than 130 newspaper websites; and 15.0% of CareerBuilder, the nation's largest online job site. McClatchy also owns 25.6% of Classified Ventures, a newspaper industry partnership that offers classified websites such as cars.com and apartments.com . McClatchy is listed on the New York Stock Exchange under the symbol MNI. ADDITIONAL INFORMATION

This release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ. These risks and uncertainties include national and local economic conditions that could affect advertising and circulation rates and volumes, changes in interest rates and/or newsprint prices, increased competition in our markets, the impact of any litigation or potential litigation, finalization of the purchase price allocations for the Knight Ridder acquisition, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the Company's September 24, 2006 report on Form 10-Q filed with the U.S. Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.

                           ***The McClatchy Company***
                         Consolidated Statistical Report
                       (In thousands, except for preprints)

November Combined Print Only *Pro Forma *Pro Forma % *Pro Forma *Pro Forma % Revenues -- Net: 2006 2005 Change 2006 2005 Change

Advertising Retail $100,792 $102,190 -1.4% $98,420 $100,839 -2.4% National 20,223 23,432 -13.7% 18,608 21,837 -14.8% Classified Total 63,926 69,858 -8.5% 52,919 58,678 -9.8% Automotive 16,696 17,815 -6.3% 14,636 16,060 -8.9% Real Estate 19,250 20,151 -4.5% 17,743 18,792 -5.6% Employment 20,770 24,156 -14.0% 13,811 16,638 -17.0% Other Class 7,210 7,736 -6.8% 6,729 7,188 -6.4% Direct Marketing 17,572 17,004 3.3% 17,572 17,004 3.3% Other Adv Rev 55 185 -70.3% 55 185 -70.3% Total Advertising $202,568 $212,669 -4.7% $187,574 $198,543 -5.5%

Circulation 27,197 28,048 -3.0% Other 7,327 6,988 4.9% Total Revenues $237,092 $247,705 -4.3%

Memo: Online Only Advertising Revenue $14,994 $14,126 6.1%

Advertising Revenues by Market: California $35,107 $36,519 -3.9% $33,254 $34,932 -4.8% Carolinas 36,433 35,996 1.2% 33,357 33,730 -1.1% Florida 29,854 33,245 -10.2% 27,917 31,774 -12.1% Midwest 48,775 52,484 -7.1% 44,891 49,137 -8.6% Northwest 19,506 18,675 4.4% 17,995 17,519 2.7% Texas 18,238 19,072 -4.4% 17,201 18,210 -5.5% Other 14,655 16,678 -12.1% 12,959 13,241 -2.1% Total Advertising $202,568 $212,669 -4.7% $187,574 $198,543 -5.5%

Advertising Statistics for Dailies: Full Run ROP Linage 3,121.4 3,132.9 -0.4%

Millions of Preprints Distributed 806.8 862.4 -6.4%

Average Paid Circulation:** Daily 3,263.3 3,330.1 -2.0% Sunday 4,104.1 4,262.0 -3.7%

*Pro Forma includes Knight Ridder acquisitions.

**Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.

***The McClatchy Company*** Consolidated Statistical Report (In thousands, except for preprints)

November Year-to-Date Combined Print Only

*Pro Forma *Pro Forma % *Pro Forma *Pro Forma % Revenues -- Net: 2006 2005 Change 2006 2005 Change

Advertising Retail $928,054 $928,663 -0.1% $907,970 $917,162 -1.0% National 220,094 241,106 -8.7% 203,250 228,934 -11.2% Classified Total 877,401 875,469 0.2% 736,300 756,662 -2.7% Automotive 206,995 230,428 -10.2% 184,518 211,808 -12.9% Real Estate 267,983 239,286 12.0% 249,776 223,786 11.6% Employment 309,206 309,165 0.0% 215,257 231,182 -6.9% Other Class 93,217 96,590 -3.5% 86,749 89,886 -3.5% Direct Marketing 175,752 153,546 14.5% 175,752 153,546 14.5% Other Adv Rev 1,362 2,070 -34.2% 1,362 2,070 -34.2% Total Advertising $2,202,663 $2,200,854 0.1% $2,024,634 $2,058,374 -1.6%

Circulation 326,304 340,092 -4.1% Other 73,239 76,945 -4.8% Total Revenues $2,602,206 $2,617,891 -0.6%

Memo: Online Only Advertising Revenue $178,029 $142,480 25.0%

Advertising Revenues by Market: California $396,895 $385,136 3.1% $374,148 $366,752 2.0% Carolinas 387,329 385,663 0.4% 352,114 360,282 -2.3% Florida 328,086 320,768 2.3% 305,407 305,389 0.0% Midwest 528,359 551,908 -4.3% 482,175 512,970 -6.0% Northwest 209,885 203,477 3.1% 193,026 190,710 1.2% Texas 196,639 194,132 1.3% 183,548 184,901 -0.7% Other 155,470 159,770 -2.7% 134,216 137,370 -2.3% Total Advertising $2,202,663 $2,200,854 0.1% $2,024,634 $2,058,374 -1.6%

Advertising Statistics for Dailies: Full Run ROP Linage 33,898.0 34,570.6 -1.9%

Millions of Preprints Distributed 7,720.7 7,285.1 6.0%

Average Paid Circulation:** Daily 3,208.2 3,309.5 -3.1% Sunday 4,127.1 4,304.8 -4.1%

*Pro Forma includes Knight Ridder acquisitions.

**Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.