Newspapers debacle ? November 29, 2009
Posted by mentelab in Uncategorized.add a comment
Here are the details of the third-quarter debacle:
:: Classified advertising led the declines, falling 37.9% from the comparable period in 2008 to $1.47 billion.
:: For the first time since 1995, national advertising sales dropped to less than $1 billion. They were $956 million, or 29.8% lower than a year ago.
:: Retail sales slid a bit less than 24% to just under $3.4 billion. They haven’t been this low since the first quarter of 1987, when they were $3.3 billion. Adjusting for inflation, the 1987 performance would be equivalent to $6.3 billion today, according to the Bureau of Labor Statistics.
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