By paulgillin | February 13, 2008 - 8:13 am - Posted in Fake News

McClatchy 4Q: Another Bad Quarter – MediaPost Publications, Feb. 7, 2008
Quoting: The McClatchy Company reported weak fourth-quarter results and a discouraging outlook for 2008, joining NYTCO and Gannett, which announced their results last week.

Gannett: 4Q Rev Drops Across Media – MediaPost, Feb. 4,2008
Quoting: “Overall, the company’s earnings were $245.3 million, down 31% compared to the same period in 2006, as revenue dipped 12% to $1.9 billion. For the full year 2007, Gannett’s newspaper ad revenues sank 6.4% to $4.9 billion, as broadcasting slipped 7.7% to $789 million.

“Like other newspaper publishers, Gannett reports that the collapse of print classified advertising revenue has been joined by declines in local and national advertising, including retail. Classifieds were down 11.4%, local 3.3%, and national 11.6%”

A.H. Belo shares fall on first day – Houston Chronicle, Feb. 11, 2008
[The stock market’s newest pure-play newspaper company disappoints in its first day as a publicly traded company. “There is a certain group of investors who don’t want to own newspapers, and they don’t care about the dividend,” says one analyst. – Ed.]

Help-Wanted Index Fell 33% in Dec. – Editor & Publisher, Feb. 1, 2008
[The Conference Board’s index of help-wanted advertising in 51 major newspapers plummeted an astonishing 33% in December. However, the organization chooses to interpret the fall as a sign of an economic slowdown rather than the real reason, which is that newspaper help-wanted advertising is no longer efficient. – Ed.]

‘Denver Post’ To Cut Biz Section – Editor & Publisher, Feb. 4, 2008
[The paper says that the standalone business section had “no heft.” The merged metro/business section will run about six pages. No job cuts are planned and business coverage won’t suffer, the Post Editor said. Last months, the Orange County Register did the same thing. Businesspeople are more likely to get their information online, so it’s no surprise these are the first sections to get cut. – Ed.]



This entry was posted on Wednesday, February 13th, 2008 at 8:13 am and is filed under Fake News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments Off on A look at the numbers: yuck!


  1. February 15, 2008 @ 12:51 am

    […] A look at the numbers: yuck! I could point to the individual posts on recent newspaper earnings, but Paul Gillin has done a nice job of bringing all the bad news together. […]