The McClatchy Co. was born as the publisher of The Sacramento Bee in 1857. Today, it is the third-largest newspaper publisher in the country, with 30 daily newspapers in 15 states. Since the purchase of Knight Ridder in 2006, McClatchy has shed properties and redoubled its efforts to figure out life as a communications giant in an increasingly post-print world. The company which still has members of the founding family on the board has navigated the turmoil in the media industry by whittling down merger debt in part through the sale of real estate and accelerated its investments and focus on digital news and advertising products and services. McClatchy is profitable, reporting net income of $24.8 million for the first six months of 2012, compared to $3 million in the same period a year ago.
THE QUICK BIO
Karole Morgan-Prager has spent most of her career close to a newsroom. The vice president of corporate development, general counsel and corporate secretary of The McClatchy Co. earned her B.A. in journalism and political science in 1984 from the University of Nevada at Reno where she did a reporting internship at the Reno Gazette-Journal. With an early plan to become a First Amendment attorney, she graduated from the UCLA School of Law in 1987. But she never saw herself as a litigator, so after graduation, she joined Morrison & Foerster as an associate in corporate law. “I realized that litigation really wasn’t my cup of tea. Transactional work was more in keeping with my personality, but MoFo was really good about junior associates,” she said, adding that she had a chance to do real estate and corporate finance work before landing in the securities and M&A practice skill sets she uses in her work today.
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