McClatchy Co., publisher of the Miami Herald, Sacramento Bee, and 28 other newspapers has good news and bad news. The good news is that ad revenue is improving.

The bad news is that by “improving” they mean down about 25 percent.

This is actually good news, in that it’s not quite as bad as they were expecting, and it allows the publisher to lift the wage freeze that has been in place since September of last year.

“Over the last several months, McClatchy’s earnings reports have shown improving trends,” said Gary Pruitt, McClatchy president and CEO. “Let me assure you, we are successfully navigating through these difficult economic times.”

Via Sacramento Business Journal