Downward Slide Continues for Newspaper Revenue

Peter Brantley
June 24, 2008 | Permalink | Comments (0) | Listen

The news, for newspapers, is monotonically downwards. From the New York Times:

On top of long-term changes in the industry, the weak economy is also hurting ad sales, especially in Florida and California, where the severe contraction of the housing markets has cut deeply into real estate ads. Executives at the Hearst Corporation say that one of their biggest papers, The San Francisco Chronicle, is losing $1 million a week.

Over all, ad revenue fell almost 8 percent last year. This year, it is running about 12 percent below that dismal performance, and company reports issued last week suggested a 14 percent to 15 percent decline in May.

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