US: negative outlook on the newspaper industry
Posted by Jean Yves Chainon on August 30, 2007 at 1:25 PM
According to Fitch Ratings’ latest survey, the newspaper industry is faring even worse than expected.
Below are the more noteworthy numbers, as reported by Editor & Publisher:
“Gannett Co. where USA Today ad pages fell 17% compared to last year, and real estate classifieds at its community papers plunged 20%.
Tribune Company, where help-wanted classified tumbled 19%, and real estate shrank by 24%. (Fitch has Tribune on a "Ratings Watch Negative," anticipating a further downgrading of its credit.)
The McClatchy Co., where real estate collapsed by 26%, and automotive plunged 20%.
Dow Jones & Co., where ad volume fell 20% on a 75% tumble in technology-related ads.”
Contrary to the beliefs of Lee Enterprises CEO Mary Junck, Fitch concluded that the decline in ad revenues is "More Secular than Cyclical."
Fitch also believed that Sam Zell’s scheduled takeover of Tribune Co. could be stopped by the current credit crunch.
Source: Editor & Publisher
“Gannett Co. where USA Today ad pages fell 17% compared to last year, and real estate classifieds at its community papers plunged 20%.
Tribune Company, where help-wanted classified tumbled 19%, and real estate shrank by 24%. (Fitch has Tribune on a "Ratings Watch Negative," anticipating a further downgrading of its credit.)
The McClatchy Co., where real estate collapsed by 26%, and automotive plunged 20%.
Dow Jones & Co., where ad volume fell 20% on a 75% tumble in technology-related ads.”
Contrary to the beliefs of Lee Enterprises CEO Mary Junck, Fitch concluded that the decline in ad revenues is "More Secular than Cyclical."
Fitch also believed that Sam Zell’s scheduled takeover of Tribune Co. could be stopped by the current credit crunch.
Source: Editor & Publisher
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When 2007 began, Fitch posted a negative outlook for the newspaper industry; now, three quarters of the way through, the outlook is even worse!