Skip to comments.McClatchy Nov. Revenue Drops 9.2 Percent (Dinosaur Media DeathWatch™)
Posted on 12/20/2007 3:15:11 PM PST by abb
McClatchy November Revenue Slides 9.2 Percent As Classified Ad Spending Slows
SACRAMENTO, Calif. (AP) -- Newspaper publisher McClatchy Co. said Thursday revenue fell 9.2 percent in November, primarily from a sharp drop in classified ads as jobs and real estate listings continue to migrate online. Assuming McClatchy owned a stable of newspapers it acquired from Knight Ridder in both periods, revenue fell 7.9 percent last month. That figure also excludes from the comparison the Minneapolis Star Tribune, which was sold in May.
Advertising revenue on this pro forma basis fell 8.6 percent. Without adjustment, the decline was 9.2 percent.
Classified advertising fell most sharply, shedding 20.3 percent, hurt primarily by a 30.8 percent drop in real estate advertising, which slowed amid the ongoing housing slump.
McClatchy properties include The Miami Herald, The Sacramento Bee and The Charlotte Observer
Sinking readership and revenue, because of biased and mediocre reporting, is finally taking its toll ....
May it accelerate!
That company is not long for this world. I give them less than 3 years.
There used to be a web site for dot coms that were in the crash and burn phase. There needs to be one for the media.
May it be so, please!
May their epitaph read: “No minor scandal of the Republicans was too small to ignore. No major scandal of the Democrats was too big to ignore.”
My local rag laid off the chief raging liberal columnist about a month ago. It was part of an early retirement package offered to 20 of the old-timers. I read about it in the ultra-left “alternative” news rag (which, oddly, has a staunch conservative columnist, something the “mainstream” rag doesn’t even have).
The story had a goodbye quote from Mr. raging liberal, something inspirational along the lines of “goodbye, it’s been great working with you all”. He sounded like a wounded duck; I ate it up with a huge smile on my face. In fact, I’m smirking as I write this (can you tell that I really hated that POS?).
What paper, ‘dog?
Ah yes. Reno Gazette-Journal. Another of the Gannettoids. Perhaps the scummiest newspapers extant. We here in North Louisiana have been infected for years with the Shreveport Times and the Monroe News-Star.
Gazette-Urinal, as it’s fondly referred to here.