Earnings Slump for Newspapers Reported in First Quarter of 2011
Poynter amalgamates the 2011 first quarter earnings reports from Gannett, New York Times Co. and Media General, and the outlook for newspapers isn’t so rosy: lower revenues are driving lower earnings compared to the period a year ago.
So what’s going wrong? Well, where do we begin! Newsprint prices are high, circulation revenue is down, digital efforts are still in their early fumbling stages, heavy debts must be repaid, and even “severe weather” and an “unsettled world economy” are being blamed.
But
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