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McClatchy Reports October 2007 Revenues: Company to Provide Business Update at UBS Conference in December

Released 11/20/2007

The McClatchy Company (NYSE: MNI) today reported that both consolidated advertising and total revenues in October 2007 decreased 9.9%.

Year-to-date advertising revenues declined 8.5% and total revenues were down 7.8% on a pro forma basis -- that is including the addition of newspapers purchased in the Knight Ridder acquisition on June 27, 2006 and excluding the Minneapolis Star Tribune newspaper which was sold on March 5, 2007.

Gary Pruitt, chairman and chief executive officer of McClatchy said, "As we anticipated at the time we released our third quarter earnings, we have seen continued declines in advertising revenues, particularly in the California and Florida newspapers which have been affected by the downturn in real estate. We are working hard to control costs and expect cash expenses to be down in the mid-single digits in the fourth quarter."

McClatchy will review its business and strategies in a presentation at the 35th Annual UBS Global Media & Communications Conference at the Grand Hyatt New York on December 5, 2007 at 11:00 a.m. The company's presentation will be webcast live on its site, http://www.mcclatchy.com, and on http://www.ibb.ubs.com/. McClatchy's presentations via webcast will continue to be archived at its web site for future reference.

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

About McClatchy:

The McClatchy Company is the third largest newspaper company in the United States, with 31 daily newspapers, approximately 50 non-dailies and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which complement its newspapers and extend its audience reach in each market. Together with its newspapers and direct marketing products, these operations make McClatchy the leading local media company in each of its premium high growth markets. 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.

McClatchy also has a portfolio of premium digital assets. Its leading local websites offer users information, comprehensive news, advertising, e-commerce and other services. The company owns and operates McClatchy Interactive, an interactive operation that provides websites with content, publishing tools and software development. McClatchy operates Real Cities (http://www.RealCities.com), the largest national advertising network of local news websites and owns 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 the nation's number two online auto website, cars.com, and the number one rental site, 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, including revenues, operating expenses, cash flows, debt levels and the expected impairment charge related to goodwill and/or long-lived assets, as well as 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. There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: McClatchy may not consummate contemplated transactions which may enable debt reduction on anticipated terms or at all; McClatchy may not achieve its expense reduction targets or may do harm to its operations in attempting to achieve such targets; McClatchy's operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; McClatchy's expense and income levels could be adversely affected by changes in the cost of newsprint and McClatchy's operations could be negatively affected by any deterioration in its labor relations, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the Company's Annual Report on Form 10-K for the year ended December 31, 2006, 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.

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

October Combined

Revenues - Net: 2007 2006 % Change Advertising Retail $84,924 $87,138 -2.5% National 18,055 19,811 -8.9% Classified Total 62,829 78,172 -19.6% Automotive 14,831 18,515 -19.9% Real Estate 18,303 25,921 -29.4% Employment 20,729 25,351 -18.2% Other Class 8,966 8,385 6.9% Direct Marketing 15,635 16,406 -4.7% Other Adv Rev 159 112 42.0% Total Advertising $181,602 $201,639 -9.9%

Circulation 26,221 27,860 -5.9% Other 6,356 8,086 -21.4% Total Revenues $214,179 $237,585 -9.9%

Memo: Online Only Advertising Revenue $14,566 $15,185 -4.1%

Advertising Revenues by Market: California $33,275 $40,992 -18.8% Florida 27,374 32,249 -15.1% Texas 18,667 20,448 -8.7% Southeast 47,813 49,616 -3.6% Midwest 26,207 27,746 -5.5% Northwest 20,567 22,863 -10.0% Other 7,699 7,725 -0.3% Total Advertising $181,602 $201,639 -9.9%

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

October Print Only

Revenues - Net: 2007 2006 % Change Advertising Retail $82,518 $85,273 -3.2% National 17,071 17,580 -2.9% Classified Total 51,653 67,083 -23.0% Automotive 12,604 16,626 -24.2% Real Estate 16,979 24,421 -30.5% Employment 13,727 18,191 -24.5% Other Class 8,343 7,845 6.3% Direct Marketing 15,635 16,406 -4.7% Other Adv Rev 159 112 42.0% Total Advertising $167,036 $186,454 -10.4%

Advertising Revenues by Market: California $31,011 $38,648 -19.8% Florida 25,730 30,093 -14.5% Texas 17,351 19,123 -9.3% Southeast 43,444 45,374 -4.3% Midwest 23,895 25,391 -5.9% Northwest 18,609 21,099 -11.8% Other 6,996 6,726 4.0% Total Advertising $167,036 $186,454 -10.4%

Advertising Statistics for Dailies: Full Run ROP Linage 3,147.7 3,541.9 -11.1%

Millions of Preprints Distributed 669.0 669.1 0.0%

Average Paid Circulation:* Daily 2,772.7 2,880.3 -3.7% Sunday 3,349.7 3,493.8 -4.1%

* 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)

October Year-to-Date Combined

Revenues - Net: *Pro Forma As Reported 2007 2006 % Change 2006 Advertising Retail $708,801 $729,854 -2.9% $437,231 National 150,990 168,627 -10.5% 96,601 Classified Total 613,236 717,946 -14.6% 441,486 Automotive 143,095 170,287 -16.0% 105,089 Real Estate 176,536 223,145 -20.9% 146,818 Employment 215,911 249,420 -13.4% 146,426 Other Class 77,694 75,094 3.5% 43,153 Direct Marketing 129,166 135,742 -4.8% 81,739 Other Adv Rev 1,726 1,385 24.6% 1,372 Total Advertising $1,603,919 $1,753,554 -8.5% $1,058,429

Circulation 235,803 246,168 -4.2% 145,764 Other 61,387 61,718 -0.5% 34,981 Total Revenues $1,901,109 $2,061,440 -7.8% $1,239,174

Memo: Online Only Advertising Revenue $140,121 $139,031 0.8% $78,294

Advertising Revenues by Market: California $307,392 $361,787 -15.0% $348,339 Florida 248,702 298,232 -16.6% 112,821 Texas 165,743 178,402 -7.1% 71,251 Southeast 410,321 422,076 -2.8% 253,047 Midwest 222,072 236,487 -6.1% 95,648 Northwest 184,288 190,379 -3.2% 148,711 Other 65,401 66,191 -1.2% 28,612 Total Advertising $1,603,919 $1,753,554 -8.5% $1,058,429

Advertising Statistics for Dailies: Full Run ROP Linage 18,344.0

Millions of Preprints Distributed 3,571.1

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

October Year-to-Date Print Only

Revenues - Net: *Pro Forma 2007 2006 % Change Advertising Retail $687,856 $716,381 -4.0% National 144,619 156,842 -7.8% Classified Total 500,431 604,173 -17.2% Automotive 122,631 152,767 -19.7% Real Estate 163,891 209,694 -21.8% Employment 141,735 171,680 -17.4% Other Class 72,174 70,032 3.1% Direct Marketing 129,166 135,742 -4.8% Other Adv Rev 1,726 1,384 24.7% Total Advertising $1,463,798 $1,614,522 -9.3%

Advertising Revenues by Market: California $285,524 $340,894 -16.2% Florida 230,846 277,461 -16.8% Texas 153,885 166,347 -7.5% Southeast 368,228 383,520 -4.0% Midwest 200,861 214,775 -6.5% Northwest 165,595 175,032 -5.4% Other 58,859 56,493 4.2% Total Advertising $1,463,798 $1,614,522 -9.3%

Advertising Statistics for Dailies: Full Run ROP Linage 27,649.9 30,787.3 -10.2%

Millions of Preprints Distributed 5,603.3 5,861.0 -4.4%

Average Paid Circulation:** Daily 2,736.8 2,835.8 -3.5% Sunday 3,380.4 3,520.0 -4.0%

* 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.