Gannett earnings
If you want abject numbers on the woe in the newspaper business, here they are from this morning's Gannett release:
2nd quarter 2008
- Profit down 36% to $233 million, $1.02/share from $366 million, $1.56/share
- Revenue down 10% to $1.72 billion
- Advertising overall down 14% -- 8% retail and a staggering 9% classified (staggering, but not surprising)
- Advertising down 17% at USA Today
Those are astounding, though as noted, not surprising numbers.
More from Gannett Blog.
Labels: Gannett, news financials, newspapers' future
posted by Doug @ 10:03 AM
2 comments|
2 Comments:
Seemingly the news gets worse and worse about journalism, Doug. One of our best students at Winthrop(a graduate of a couple years back) just emailed to say he's leaving The (R.H.) Herald for a better opportunity on the Charlotte Business Journal. Can't blame him at all. Such are the times we live in. The times in journalism--they are a hurtin!
But, look on the bright side, at least CBJ is still journalism.
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