Web Ads, Recession Pummel Newspapers in Q2

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Newspapers’ financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with US$2.8 billion less revenue than they had at the same time last year. It’s the deepest downturn yet during a three-year free fall in advertising revenue — newspapers’ main source of income. The magnitude of the industry’s advertising losses have intensified in each of the last 12 quarters. The numbers released Thursday by the Newspaper Association of America weren’t a shock.

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