Newspapers Report Weak Earnings

WSJ reports:

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Three of the country’s biggest newspaper publishers reported sharply weaker first-quarter results Thursday, reflecting across-the-board declines in print advertising, particularly in classified ads related to the cooling housing market.

Gannett Co. and New York Times Co. each posted declining earnings for the period. Tribune Co., which recently agreed to be taken private, posted a loss due to sagging profits at its businesses and one-time losses from investments.

Bright spots for the companies’ quarters included rapid growth in their Internet operations, a short leash on expenses and curtailed costs for newsprint.

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You can read a comprehensive analysis of the Newspaper industry in my former article, Newspapers : Industry in Turmoil. It includes strategy recommendations that are needed for the industry to be turned around at this juncture.