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McClatchy Ad Sales Plummet In October

In another sign of the newspaper industry's weakness, McClatchy says its October revenue fell almost 10% due in the most part to declining real estate and car ad sales. The publisher brought in ad revenue of $181.6 million for the month, down from $201.6 million a year ago.
Owner of 31 dailies including "The Miami Herald" and "The Sacramento Bee," McClatchy said national ad revenue was off 8.9% while classified fell 19.6%. "We have seen continued declines in advertising revenues, particularly in the California and Florida newspapers, which have been affected by the downturn in real estate," says Chief Executive Gary Pruitt said in a statement.

Even more ominous perhaps: Online ad revenue -- typically the healthiest for newspaper these days -- slipped 4.1% percent to $14.6 million from $15.2 million.



Read the whole story at Associated Press via Yahoo »

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