Mecom, a Europe-wide 'content and consumer business' under David Montgomery, reported an 18% fall in advertising revenue in the four months preceding November. The company owns over 300 newspapers and claims a readership of 20 million per week.

This fall marks an improvement from the 22% fall in the first six months of this year. Meanwhile, circulation revenues across Poland, Denmark and Norway were up 2% due to continued circulation and increased prices.

Management will continue cost-cutting measures, which have so far saved 11% on total costs since last year. The company claims that 'cost management' is an effective mitigation against declining ad revenues.

Source: MediaGuardian