A day before the cuts, a Wall Street Journal column suggested McClatchy would go private. The column was based on the news that chairman and CEO Gary Pruitt had resigned as a co-trustee of four trusts that control much of the McClatchy family's company stock.
Pruitt admitted to an alt-weekly, the Sacramento News & Review, that this year has been the worst of his life but that he's not quitting:
- “I came into this not because I had an MBA and I thought this was a good way to make money, but because McClatchy believed in First Amendment rights and quality journalism,” Pruitt said. “When you see the bad revenue numbers, you go, ‘Oh god, this is so terrible, I don’t need this anymore.’ But probably the only thing worse than staying would be quitting. It’s too important.”