Revenue during the quarter dropped 8.27 percent to $262.18 million from $285.82 million in the previous year period. Total expenses were 88.65 percent of quarterly revenues, up from 87.27 percent for the same period last year. That has resulted in a contraction of 139 basis points in operating margin to 11.35 percent.

Operating income for the quarter was $29.74 million, compared with $36.40 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $59.54 million compared with $70.45 million in the prior year period. At the same time, adjusted EBITDA margin contracted 194 basis points in the quarter to 22.71 percent from 24.65 percent in the last year period.

As reported, on January 25, 2017, the board of directors appointed Craig Forman president and chief executive officer (CEO) of the company. He has been a McClatchy board member since 2013 and will remain on McClatchys board. Forman has a strong track record in both digital technology and journalism, and familiarity with the companys digital-transformation strategy. He has served as the executive chairman of Where.com Inc. and Appia Inc. and previously held executive roles with Yahoo!, Time Warner, Infoseek, and Dow Jones. Forman served in senior leadership roles at Earthlink from 2006 to 2009, including as president of the company's $1 billion consumer access and audience business.