Wednesday, April 15, 2009

Newspaper earnings reports could be brutal

Paul Gillin says upcoming earnings reports are expected to be ugly.
“Gannett Co., the largest U.S. newspaper publisher by circulation, reports earnings on Thursday, kicking off what is expected to be the ugliest quarter in recent memory for the industry,” says The Wall Street Journal in a blunt assessment of the coming earnings season. USA Today is expected to take it on the chin when Gannett announces its results. Forthcoming numbers from the Audit Bureau of Circulations are expected to show a six-month decline of about 100,000 in USA Today’s 2.3-million circulation, largely as a result of lower occupancy in hotels. Free hotel distribution accounts for more than half of the paper’s 2.3 million circulation.
The Audit Bureau of Circulations report will be released April 27th. Numbers released by the Miami Herald last month point to a loss of 50,000 Herald subscribers in the last year.


Anonymous said...

Big Smile. Does that mean more Marxists get their pink slips (wings) today?

MAS1916 said...

Gee... lefties being laid off?

That is tough to feel too bad about.

The old media never understood Hope and Change.

We hoped that they would report in a much more balanced fashion. Now Change will be upon them.

Anonymous said...

Half of their subscriber base is free Hotel subscriptions? No Stuff?

That explains a lot. Who would have thought that hotels would be the biggest pusher of Bibles and Bull Shit.

Anonymous said...

Sam Zell: Buying the Chicago Tribune Was a Mistake

"By definition, if you bought something and it's now worth a great deal less, you made a mistake and I'm more than willing to say I made a mistake. I was too optimistic in terms of the newspaper's ability to preserve its position.”

Anonymous said...

When you stay in a hotel, tell them you are a 'green' person, and newspapers are a waste of trees. They will pay attention to you, but if you mention the biased reporting, they will think you are a crank. You see, radical environmentalists are serious, people interested in fair news reporting are misguided? Bad times ahead for the hotel/motel industry means fewer ads for the media.