Journal Communications Posts 20% Decrease In Revenue

Journal Communications posted a 20.4 percent revenue drop in its quarterly report to shareholders today. The company, which publishes the Milwaukee Journal Sentinel and owns and operates 35 radio stations and 12 television stations in 12 states, has been taking steps to reduce expenses, and just barely squeaked into profitability with net earnings of $100,000 (compared to $6.7 million in Q1 2008). That’s a 98% decrease in earnings.
Publishing did slightly worse than broadcast, with the former’s revenue down 20.7 percent and the latter down by 20.5 percent. Revenue from radio stations fell 21.9 percent.
The full release is available here.