Third-largest newspaper group in US reports 30.2% year-on-year decline in ad revenue but more than doubles profits McClatchy, the third-largest newspaper group in the US, has reported a 30.2% year-on-year decline in ad revenue in the second quarter of 2009 but pleased analysts by more than doubling profits. The company, owner of 30 daily newspapers including the Miami Herald, Sacramento Bee and Kansas City Star, reported ad revenue down 30.2% to $283.7m (£173m) in the three months to 28 June, with digital ads down 2.9% due primarily to a fall in employment ads. McClatchy said that when the employment sector was stripped out of digital ad revenues, there was growth of 24.7% in the second quarter.