Romenesko

Sacramento Bee
John Miller of Ariel Capital Management -- McClatchy's single biggest investor outside of the McClatchy family -- says the write-down "is not worrisome" but it suggests "the company did overpay for its most recent acquisition, Knight Ridder." Miller says his firm still supports McClatchy. "We still think it's an attractive investment. The business, if you exclude California and Florida, is doing much better."