Gannett And The New York Times: Newspaper Revenue Drop Quickens

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By Douglas A. McIntyre Published
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Newspapers companies have hoped against hope that the rapid fall of their print advertising would level out or at least decelerate. But, for the large companies like Gannett (GCI) and The New York Times (NYT), the hope continues to go unrealized.

New numbers from the Newspaper Association of America show that online advertising at newspapers moved up 19% in the second quarter of the year and hit $796 million. This was of little help as "Total advertising expenditures at newspaper companies were $11.3 billion for the second quarter of 2007, an 8.6 percent decrease from the same period a year earlier. Spending for print ads in newspapers totaled $10.5 billion, down 10.2 percent versus the same period a year earlier.", according to the NAA

Key classified ad categories including real estate, automotive, and jobs fell by 20% as the business moved to only classified sites from Craiglist to Realtor.com to Monster (MNST).

And, the industry has no solutions.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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