This is actually a good sign of a healthy population - people are obviously tired of paying to be lied to.
Rough Start in '07: 5 Newspaper Companies Report Slides
By E&P Staff
Published:March 21, 2007 9:45 AM ET
CHICAGO Several newspaper companies today reported big hits to their revenues in early 2007.Tribune Co. said today its publishing revenues were off 5.1% for February with circulation revenue off 7% (see separate story).Advertising revenue at The New York Times Co. plummeted 6% in February due to weakness at its flagship and regional papers, the company announced yesterday. Total revenue for the company was down 3.6%.Hammered by double-digit decreases in automotive, real estate and help-wanted classified ad revenues, Sacramento, Calif.-based The McClatchy Co. reported Wednesday that, on a same-property basis ad revenues in February fell 5.2%, and total revenues dropped 5.1%.Total classified on a pro-forma basis -- counting results from the 20 dailies acquired in the Knight Ridder Inc. acquisition and excluding the recently sold Minneapolis Star Tribune -- fell 12.4% to $59.4 million.Newspaper automotive classified plunged 15.4%; real estate dropped 16.3%; and help-wanted fell 11.6%.McClatchy said Internet advertising, while up 1% for the month and 7.6% year-to-date, was affected by the new affiliate agreement with CareerBuilder for online employment advertising.
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