Sacramento Bee: McClatchy said its profits fell to $98,000 during the second quarter, as the company continued to wrestle with the transition to a digital media strategy and the continued slide in revenue from print. Sacramento-based McClatchy, which owns the Sacramento Bee and 28 other newspapers, said: “Softness in print advertising and direct marketing advertising negatively impacted total revenue performance in the quarter.” The results show McClatchy is still in the midst of a decade-long decline in print revenue as the newspaper industry and other traditional media cope with increased competition from the Internet and other sources.