For Immediate Release

Chicago, IL – October 23, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The New York Times Company (NYT), Washington Post Company (WPO), Journal Communications (JRN), Gannett Co. (GCI) and McClatchy Company (MNI).

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Here are highlights from Thursday’s AnalystBlog:

NY Times Beats Zacks Consensus

Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate.

The New York Times quarterly earnings of 16 cents a share surpassed the

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Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate. The New York Times quarterly earnings of 16 cents a share surpassed the Zacks Consensus Estimate of 2 cents, and the prior-year quarter earnings of 5 cents. The better-than-expected results came on the heels of significant cost-cutting measures and newspaper price increase. On a reported basis, including one-time items, the company reported a loss of 25 cents a share, a substantial improvement from the loss of 74 cents delivered in the year-ago quarter. Management now expects to save $475 million in operating costs in 2009 up from $450 million previously anticipated. Operating costs fell 21.6% to $490 million, whereas operating profit surged 30.2% to $80.6 million. Total revenue dipped 16.9% to $570.6 million, primarily due to lower print ...

Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 30 daily newspapers including the Miami Herald and Sacramento Bee, reported third-quarter 2009 results. McClatchy is facing the same dramatic decline in advertising revenue, as the rest of the newspaper industry. Total advertising revenue fell 28.1% year-on-year to $266.1 million. However, circulation revenue stabilized, up 6.7% to $69 million due to increase in circulation prices. As a result, total revenue slipped 23.1% to $347.4 million. To combat the downturn, management undertook cost-cutting initiatives, focused on building Internet operations and reduced debt load. McClatchy had lowered its headcounts, and cut executive pay. The company was able to lower its cash expenses by 29.4% and total operating expenses by 30.2%. McClatchy’s quarterly earnings remained flat at 13 cents a share compared to ...

The New York Times Company (NYT) shed its plan to sell the Boston Globe after effective cost-cutting measures and an increase in price led to an improved financial position.

The company's series of steps included labor contract concessions expected to cut $20 million yearly in operating costs, consolidation of printing facilities projected to save $18 million a year, reduction in compensation for managers, and a rise in prices for both newsstand and home delivery of the paper. The company is also viewing options to price its online contents on its website, Boston.com.

The newspaper industry has long been grappling with the slump in advertising demand amid the global meltdown, as advertisers are migrating to the Internet due to increasing online readership and lower ad prices.

Earlier in August 2009, The New York Times Company hired Goldman Sachs to explore strategic alternatives for its New England Media Group, which includes Boston Globe,

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After several rounds of bids by various private equity firms and publishers, Bloomberg ultimately emerged as the winner in the race to acquire struggling BusinessWeek magazine.   The terms of the transaction, which is expected to close by the end of this year, were not disclosed. However, according to sources, Bloomberg offered cash in the range of $2 million to $5 million, and agreed to undertake BusinessWeek's liabilities, including potential severance payments to nearly 400 employees who might be laid off.   The parent group McGraw-Hill Companies (MHP) was seeking strategic options for BusinessWeek ever since July. Like other print publications, the magazine has long been grappling with the slump in advertising demand amid the global meltdown, as advertisers are migrating to the Internet due to increasing online readership and lower ad prices than print. Advertising pages in BusinessWeek's global edition fell 34.3% in the second quarter.  ...