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Article: US newspapers face sharp drop in advertising sales
- Article from:
- The Independent (London, England)
- Article date:
- August 27, 2008
- Author:
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Copyright informationCopyright 2008 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Advertising saleS are slumping across the US newspaper industry,
as it faces a double whammy of a weakening economy and a switch in
spending to alternative media.
Figures from one of the nat-ion's most recognisable newspaper
brands, The New York Times, showed advertising revenue fell 15.3 per
cent in July, and other papers owned by the same parent company are
doing even worse. The division, which includes The Boston Globe, saw
advertising income down by a quarter last month.
Across The New York Times Company, which is the third-largest
newspaper group in the US, advertising fell 17.9 per cent from July
2007.
A collapse in classified advertising revenue, particularly real
estate listings, was ...