Good News! (Literally!)
Non-Nazi Newspapers Aren't Only Ethical, But Very, Very Profitable
by Tamara Baker

Jan. 31, 2003 -- SAINT PAUL, MINNESOTA (APJP) -- Here in the midst of the Bush Junta's rush to war with Iraq, there may seem to be precious little good news to be found. But there is, there is -- and the best news is that good news, and good newspapers, can still make good money nowadays.

Get a load of this, for example:

JANUARY 30, 2003
McClatchy's Earnings Up Sharply
Circulation, Advertising Revenues Increase

By Jessica V. Brice, Associated Press Writer

SACRAMENTO, Calif. -- (AP) Newspaper publisher McClatchy Co. posted sharply higher earnings Thursday for the fourth quarter, beating analysts' expectations.

Net income for the quarter ending Dec. 29 was $39 million, or 84 cents per share, compared with $20.9 million, or 46 cents a share, a year earlier.

Excluding a one-time expense of $1.6 million to write down the value of land at The News & Observer in Raleigh, N.C., its earnings were 86 cents a share.

That beat McClatchy's October forecast of 76 cents to 78 cents per share, as well as the consensus forecast of 80 cents a share by analysts surveyed by Thomson First Call.

Revenues increased by 4% to $287.9 million from $276.7 million during the same period in 2001.

In trading on the New York Stock Exchange, McClatchy shares rose 90 cents, or 1.7%, to $55.60.

Why is this good news? Because the McClatchy company owns some of America's best newspapers, including my own favorite local paper, the Minneapolis StarTribune, which contributed 34% of the company's fourth-quarter earnings. They're the Anti-Murdoch, in that they consistently strive to uphold good old-fashioned journalistic ethics and values. And, even as other newspapers shrink and wither, the McClatchy group grows and prospers, proving that there's still a market for good journalism in this country.

Speaking of which:

The comments regarding my "to blog or not to blog?" piece have been coming in at a steady rate, some pro, some con, all interesting. I want to take the time to thank everyone who's responded.

Some persons have put forth what I consider the admirable solution of creating a Blogger's Digest that would contain the most worthwhile and relevant blogs for those of us who are news-and-politics junkies. That sounds like it would be a very good idea -- and I'd put Atrios' and Ted Barlow's blogs at the top of the list. This way, the bloggers' power and readership base wouldn't be diluted into uselessness. (It's better to have sixty or seventy blogs read by six million people, than a million blogs read by sixty people each.)

That's all for now... see you later, and have a good weekend!