pixelbomb

The waning Fourth Estate…

E.W. Scripps Co. and McClatchy Co., two of the nation’s largest newspaper publishers, announced double-barreled declines and blam[ed] the weak ad market for the disappointing results. Scripps third quarter profits were down 11%.

The Sun-Times Media Co., which owns the Chicago Sun-Times, estimated that newspaper print advertising in the greater Chicago market had declined about 7.5% in the past quarter, with their third quarter revenue loss greater than previous quarters.

The Tribune Co. and The New York Times Co., both reported sluggish advertising revenue in the third quarter. Overall renuves dropped 3% and 2.4% respectively; with the Times reporting a paltry $14 million in advertising earnings.

Meanwhile Google has reported that its profits nearly doubled over the past year. In the third quarter Google’s online advertising business was responsible for generating a staggering $1.86 billion, up 84% from the same period last year.

via

This entry was posted on Friday, October 20th, 2006 at 2:57 pm and is tagged with google, news, tech, web. You can discuss this entry, share pictures, and more in the pixelbomb forums. Responses are currently closed, but you can click here to generate a trackback url for your own site.