Moody's Maintains Stable Outlook for Newspaper Industry
Ratings agency Moody’s Investors Service has announced that it has a stable business outlook on the U.S. newspaper industry. It expects sector-wide revenue declines of 5% to 10% for 2010, amid a pickup in the broader U.S. economy.
Says Radio Business Report:
“Our 2010-2011 forecasts assume continued improvement in nominal US GDP growth,” said John Puchalla, a Vice-President and Senior Credit Officer at Moody’s. “The stable outlook is also supported by expectations that operating leverage from aggressive cost cuts will lift earnings for the next 12 to 18 months.”
But
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