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McClatchy Reports April 2007 Revenues

Released 05/21/2007

The McClatchy Company (NYSE: MNI) today reported that consolidated advertising revenues in April 2007 decreased 7.6% and total revenues were down 5.5% compared to pro forma revenues (including the addition of newspapers purchased in the Knight Ridder acquisition and excluding the Minneapolis Star Tribune newspaper). Year-to-date advertising revenues declined 6.0% and total revenues were down 5.1% on a pro forma basis.

Pat Talamantes, McClatchy's chief financial officer, said, "As we anticipated, advertising trends weakened during April, reflecting in part, the shift of Easter in the calendar year, which helped retail advertising in March to the detriment of our April 2007 retail revenues. In particular we saw a shift of approximately $2.0 to $2.5 million in preprint advertising into March as a result of advertising in the week prior to Easter, as well as some in-newspaper display advertising. As in the past, we recommend that for an apples-to-apples comparison, investors should combine March and April advertising revenue results.

"Also, internet advertising was down 2.1% in April and is continuing to be affected by the new affiliate agreement with CareerBuilder for online employment advertising. As we have noted in prior months, this agreement is helping to grow online employment revenues at the legacy McClatchy newspapers, but under the new affiliate agreement selected products are no longer available to be sold by the 20 acquired Knight Ridder newspapers thus depressing their internet revenues. We will begin cycling through this change in August 2007.

"We have our most difficult advertising comparison of the second quarter in May. We are managing through the challenges of cyclical and structural change with a strong focus on cost reduction, including the realization of the $70 million in synergies from the acquisition of Knight Ridder."

Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.

The McClatchy Company is the third largest newspaper company in the United States, with 31 daily newspapers and approximately 50 non-dailies. McClatchy-owned newspapers include 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 and 14.4% 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

Statements in this press release regarding future financial and operating results, future opportunities for the company and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These forward-looking statements 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, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the company's Quarterly Report on Form 10-Q for the quarter ended April 1, 2007, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release. Contact: Elaine Lintecum 916-321-1846 elintecum@mcclatchy.com

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

April Combined

*Pro Forma % As Reported Revenues - Net: 2007 2006 Change 2006

Advertising Retail $80,809 $85,081 -5.0% $28,168 National 17,143 19,828 -13.5% 5,478 Classified Total 73,009 82,935 -12.0% 29,343 Automotive 16,023 19,068 -16.0% 6,474 Real Estate 21,675 25,731 -15.8% 10,721 Employment 26,487 29,107 -9.0% 9,768 Other Class 8,824 9,029 -2.3% 2,380 Direct Marketing 16,337 15,054 8.5% 4,964 Other Adv Rev 241 159 51.6% 155 Total Advertising $187,539 $203,057 -7.6% $68,108

Circulation 27,136 28,333 -4.2% 9,120 Other 10,467 6,894 51.8% 1,836

Total Revenues $225,142 $238,284 -5.5% $79,064

Memo: Online Only Advertising Revenue $15,337 $15,671 -2.1% $4,146

Advertising Revenues by Market: California $35,621 $40,515 -12.1% $37,925 Southeast 48,126 49,248 -2.3% 16,087 Florida 28,342 35,191 -19.5% 0 Midwest 26,192 27,677 -5.4% 0 Northwest 22,108 22,525 -1.9% 14,096 Texas 19,500 20,522 -5.0% 0 Other 7,650 7,379 3.7% 0 Total Advertising $187,539 $203,057 -7.6% $68,108

Advertising Statistics for Dailies: Full Run ROP Linage 1,224.5 Millions of Preprints Distributed 212.3

Average Paid Circulation:** Daily Sunday

April Print Only

*Pro Forma % Revenues - Net: 2007 2006 Change

Advertising Retail $78,725 $83,707 -6.0% National 16,657 18,760 -11.2% Classified Total 60,241 69,706 -13.6% Automotive 13,956 17,301 -19.3% Real Estate 20,308 24,222 -16.2% Employment 17,796 19,753 -9.9% Other Class 8,181 8,430 -3.0% Direct Marketing 16,337 15,054 8.5% Other Adv Rev 242 159 52.2% Total Advertising $172,202 $187,386 -8.1%

Circulation Other Total Revenues

Memo: Online Only Advertising Revenue

Advertising Revenues by Market: California $33,157 $38,213 -13.2% Southeast 43,621 44,785 -2.6% Florida 26,442 32,674 -19.1% Midwest 23,845 25,126 -5.1% Northwest 20,075 20,804 -3.5% Texas 18,312 19,081 -4.0% Other 6,750 6,703 0.7% Total Advertising $172,202 $187,386 -8.1%

Advertising Statistics for Dailies: Full Run ROP Linage 3,393.8 3,386.7 0.2% Millions of Preprints Distributed 610.2 660.2 -7.6%

Average Paid Circulation:** Daily 2,787.1 2,894.1 -3.7% Sunday 3,419.8 3,598.0 -5.0%

* Pro Forma includes Knight Ridder acquisitions and excludes ** 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)

April Year-to-Date Combined

*Pro Forma % As Reported Revenues - Net: 2007 2006 Change 2006

Advertising Retail $286,837 $289,427 -0.9% $92,856 National 62,294 70,227 -11.3% 19,235 Classified Total 261,544 294,611 -11.2% 105,625 Automotive 58,158 69,289 -16.1% 24,973 Real Estate 76,825 89,944 -14.6% 37,184 Employment 96,133 104,819 -8.3% 34,895 Other Class 30,428 30,559 -0.4% 8,573 Direct Marketing 53,279 51,889 2.7% 16,056 Other Adv Rev 609 677 -10.0% 670 Total Advertising $664,563 $706,831 -6.0% $234,442

Circulation 99,015 102,918 -3.8% 32,883 Other 28,122 24,830 13.3% 6,200 Total Revenues $791,700 $834,579 -5.1% $273,525

Memo: Online Only Advertising Revenue $56,543 $54,750 3.3% $14,648

Advertising Revenues by Market: California $128,107 $142,981 -10.4% $134,146 Southeast 166,986 169,153 -1.3% 54,323 Florida 110,523 128,557 -14.0% 0 Midwest 90,025 95,687 -5.9% 0 Northwest 74,681 73,654 1.4% 45,973 Texas 67,941 72,496 -6.3% 0 Other 26,300 24,303 8.2% 0 Total Advertising $664,563 $706,831 -6.0% $234,442

Advertising Statistics for Dailies: Full Run ROP Linage 4,219.7 Millions of Preprints Distributed 748.0

Average Paid Circulation:** Daily Sunday

April Year-to-Date Print Only

*Pro Forma % Revenues - Net: 2007 2006 Change

Advertising Retail $278,859 $284,869 -2.1% National 60,404 66,911 -9.7% Classified Total 214,869 247,735 -13.3% Automotive 50,446 62,698 -19.5% Real Estate 71,772 84,683 -15.2% Employment 64,347 71,862 -10.5% Other Class 28,304 28,492 -0.7% Direct Marketing 53,279 51,889 2.7% Other Adv Rev 609 677 -10.0% Total Advertising $608,020 $652,081 -6.8%

Advertising Revenues by Market: California $119,201 $134,835 -11.6% Southeast 150,012 153,565 -2.3% Florida 102,781 119,634 -14.1% Midwest 81,593 86,724 -5.9% Northwest 67,296 67,767 -0.7% Texas 63,502 67,540 -6.0% Other 23,635 22,016 7.4% Total Advertising $608,020 $652,081 -6.8%

Circulation Other Total Revenues

Memo: Online Only Advertising Revenue

Advertising Statistics for Dailies: Full Run ROP Linage 10,920.7 11,776.2 -7.3% Millions of Preprints Distributed 2,279.0 2,293.7 -0.6%

Average Paid Circulation:** Daily 2,818.2 2,923.5 -3.6% Sunday 3,463.6 3,614.3 -4.2%

* Pro Forma includes Knight Ridder acquisitions and excludes (Minneapolis) Star Tribune newspaper. ** Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.