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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