Goldman Sachs: Light Recession Would Accelerate Newspaper Decline
Newspapers, magazines and radio, already reeling from an ad recession, may be headed towards even lower ad expenditures on the horizon. Goldman Sachs said today that newspapers earnings and revenues would accelerate in a recession. Sachs also forecast separately that the United States economy is headed into a light recession this year. From Reuters:
”’We believe this secular trend will be exacerbated by a cyclical downturn in 2008, particularly affecting the classified categories, resulting in what we believe will be the industry’s weakest revenue performance since 2001,’ it said.
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