A report headed “Financial News Gets Worse for Newspapers” stated “Newspapers’ financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year… The magnitude of the industry’s advertising losses have intensified in each of the last 12 quarters….Some newspaper industry executives are hoping the slide bottomed out in the second quarter.”
WATCHDOG: We hope that advertisers will soon return to the newspapers, but we anticipate a much smaller percentage of their dollars being invested in the print media.
