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March 22, 2001|Reuters

McClatchy Co., which owns the Sacramento Bee and Fresno Bee in California and the Star Tribune in Minneapolis, also said its first-quarter earnings would be hurt by weaker advertising. Similar announcements have been made recently by Knight Ridder Inc., New York Times Co. and Dow Jones & Co., publisher of the Wall Street Journal. Both Tribune and McClatchy issued their warnings after the markets closed. Tribune shares fell $1.55 to close at $36.20, while McClatchy closed up 81 cents at $38.51, both on the NYSE.

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