November was another horrible month for newspaper chain McClatchy (MNI). The company said that both consolidated advertising and total revenues in November 2007 decreased 9.2%.

Real estate classified revenue was down 31% for the month and employment classified by almost 25%.

Revenue in the company’s California papers fell 16%.

Only ad revenue is going nowhere. It dropped 4%.

McClatchy shares are off 70% this year, and that is likely to get worse.

Douglas A. McIntyre