As McClatchy executives go on a “U.S tour” of their new newspapers, recently acquired in the Knight Ridder deal, to discuss the company’s plans for the future of their papers, Gary Pruitt, Chairman of the Board, President and Chief Executive Officer of The McClatchy Company, still believes that good journalism is good business.

"All the other competition have fragmented their audience," Pruitt said, citing the proliferation of television channels, radio stations and magazines. While acknowledging that newspaper readership is declining slightly, the fall is not as precipitous as it is among other media, he said.

In recent visits to newly acquired newspapers like The Charlotte (N.C.) Observer, The State, The Herald and The Sun News, Pruitt has called for his newspapers to start delivering news to consumers 24 hours a day through the internet. Pruitt also said that one of the best ways to deliver news to new consumers is to attack fast-growing markets that hold promising business opportunities.

"A platform - so we can deliver to people 24-7 news and information when they want it and how they want it," he said.

Although not naïve to the current state of the newspaper industry as a whole, Pruitt is still excited about the new markets in which McClatchy will operate.

"Even though most newspapers are declining in circulation a little bit, that's not failure," he said. "That's called victory compared to what the other competitors are experiencing, because technology provides such a wide range of choices for people."

McClatchy intends to supplement its new acquisitions with a full portfolio of print and electronic products, Pruitt said.

"The 32 markets that make up the new McClatchy company are growing more than 50 percent faster than the U.S. average," he said. "We don't want to trade places with anybody."

The $4.5 billion sale, expected to be completed this summer, will put McClatchy in the No. 2 slot behind Gannett Co. McClatchy already owns 12 newspapers, including the Sacramento Bee, Minneapolis Star Tribune and the Anchorage Daily News. (See former posting for more information)

Sources: HeraldToday.com and Myrtle Beach Online [Through the Ifra Executive News Service]