McClatchy on a block with no name

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McClatchy still won't comment on its mysterious share price jump since the market opened on Wednesday. That's right, McClatchy won't comment on the dearth of company news, the kind of dearth that drives a share price up more than 4% at day's end. After retracting a bit this morning, McClatchy (NYSE: MNI) shares are up almost 1.5% today, nearing the midday peak of yesterday's surge. Granted, McClatchy reached a new 52 week low at market close on Tuesday, and has to double (almost) to reach its 52 week high, but publishing stocks have been hammered for a variety of legitimate reasons. McClatchy's sales are down 6% this year and ad revenue is down over 7%, like other publishers struggling to go digital.
The lead rumor is that McClatchy is planning to dump the rest of its stake in CareerBuilder. Still no word on who's pumping, and who's dumping?
Extra! Extra! McClatchy for sale? [Media Biz via CNN Money]

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