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“Tribune Co. April Ad Revenue Plunges 10.3%” says Editor & Publisher, noting that classified ad revenues fell 14.9%, real estate ad sales plummeted 20%, help wanted declined 13%, and automotive ad revenues were off 12%.
This kind of drop-off is dramatic in an industry that’s usually so predictable. Most worrisome was the decline in classified advertising, the most profitable business newspapers have.
This brought to mind Sam Zell’s acquisition of the Tribune Co. back in early April and the Trib’s interview with its new owner, in which the word “Internet” appeared only once. My views on that rather curious omission are stated here.
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