Sacramento Bee Owner Sees Record Profits.(Knight Ridder/Tribune Business News)

Dec. 7--The McClatchy Co., owner of The Bee and 23 other newspapers, forecast record profits Wednesday despite a slowdown in the economy.

The company posted record results through October, and despite a slowdown in advertising revenue growth in November, "McClatchy is on track to report a record year in revenues and earnings," President and Chief Executive Officer Gary Pruitt said in remarks prepared for an analysts' conference in New York.

"Despite a slowing economy and higher newsprint prices, we expect to deliver record earnings in 2001 as well," Pruitt said.

"An essential element in our success next year will be expense control, …