The McClatchy Company reported lower profits for Q2, as total net income was $40.0 million, down 9.3 percent from $44.1 million in Q206. Revenues, however, rose 173.6 percent to $580 million in Q2 from $212 million last year, thanks to the acquisition of 20 Knight Ridder newspapers, As part of that sale, McClatchy (NYSE: MNI) issued 35 million Class A shares, which also had a negative affect on its earnings per share.

—Online ad revenue fell to $13.7 million in Q2 from $14 million, a modest year-over-year decrease of 2.1 percent

—On the topic of its relationship with CareerBuilder, Gary Pruitt, McClatchy’s chairman and CEO, reiterated comments he made last month at the Newspaper Association of America’s Mid-Year Media Review about the possible sale of its 14.4 percent stake in the online recruiter. McClatchy shares ownership of CareerBuilder with Microsoft, (NSDQ: MSFT) which bought a 4 percent stake in May; both Tribune (NYSE: TRB) Company and Gannett (NYSE: GCI) each have a 40.8 percent stake. “We are continuing our talks with Gannett and Tribune about changing our affiliate agreement with CareerBuilder to be more equitable for our newspapers and are hopeful that a resolution will be reached shortly. It is our clear preference to remain with CareerBuilder, and we will update investors once we have made a decision on our online employment solution.” Earnings release | Webcast