Shares of newspaper publisher McClatchy fall more than 7% amid … – MarketWatch

Shares of McClatchy Co.












MNI, -6.74%










were down more than 7% on Tuesday amid a broad selloff in media stocks. On Monday McClatchy, along with Tribune Media Co.












TRCO, -0.29%










and Tegna Inc.












TGNA, -3.80%










announced it was selling a majority of its ownership stake in CareerBuilder. McClatchy shares closed down less than 1% on Monday and extended losses on Tuesday, leading media stocks down. Shares of Gannett Co.












GCI, -3.71%










and Tegna Inc.












TGNA, -3.80%










were down more than 3%, while the New York Times Co.












NYT, -1.27%










and Tronc Inc.












TRNC, -2.32%










saw shares fall more than 1%. Shares of Time Inc.












TIME, +0.55%










and Tribune Media Co.












TRCO, -0.29%










were down less than 1%. McClatchy shares have declined nearly 22% in the year to date and more than 35% in over the last 12 months. By comparison, the S&P 500 index












SPX, -0.46%










is up more than 9% in the year and more than 17% in the prior 12-month period.












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