McClatchy Newspapers, owner of The News & Observer, The Charlotte Observer and 28 other daily newspapers, reported Thursday that it swung to a net loss in the fourth quarter due to a debt refinancing charge.
The company had a net loss of $30 million, or 35 cents per share, including a $60 million after-tax loss on debt refinancing. That compared with net income of $42 million, or 49 cents per share, during the fourth quarter of 2011.
McClatchy refinanced much of its debt last year at a lower interest rate and extended the maturity on the debt by five years.
Revenues for the fourth quarter were $355.7 million. The company's 2012 fourth quarter included an extra week -- 14 compared to the 13 weeks in 2011 -- and on a 13-week basis revenues were an estimated $333 million, down 5.3 percent compared to the fourth quarter in 2011.