McClatchy said it used the proceeds to pay down debt. It will record a related charge of about $3 million in the second quarter. McClatchy had acquired a stake in ShopLocal through its acquisition of newspaper publisher Knight Ridder Inc. in June 2006, and later sold a portion of that stake to Gannett and Tribune.

ShopLocal will work in conjunction with Gannett's Internet media company PointRoll to create ads for retailers.