The top executives of several major newspaper companies, including The New York Times Co., EW Scripps, and Gannett Thursday expressed concerns about a still difficult recovery for national newspaper
advertising during a Morgan Stanley investor conference, Reuters reported.
This news came a day after Dow Jones issued a profit warning due to weak advertising at The Wall Street Journal.
New York Times Co. COO Janet Robinson was quoted as saying: "We're very cautiously optimistic. The Times has been disappointing in terms of national advertising and certainly some areas that
are dependent on the New York economy." Tim Stautberg, head of investor relations for Scripps, said, "It's been a slow, painful, sloppy economic recovery."
advertisement
advertisement