DAILIES STILL BATTERED BY SLUMPING AD REVENUE

Declining Classifieds Takes Toll on Knight Ridder

By Published on .

NEW YORK (AdAge.com) -- Big-city newspapers remain battered by recessionary winds, and a second-half recovery still looks tentative, judging from comments made by publishers Knight Ridder and the Washington Post Co. at this year's Mid-Year Media Review.

P. Anthony Ridder, Chairman-CEO of Knight Ridder, characterized recent results as "fitful, but directionally right."

But the downturn, which

Related Stories:
NEWSPAPERS MAULED BY MONSTER.COM
Print Companies' Online Classified Ad Revenue Continues Decline
KNIGHT RIDDER REPORTS FIRST QUARTER UP
Net Income Increases Despite Still-Declining Ad Revenues
TWO MEDIA COMPANIES REPORT SLUMPING FIRST QUARTERS
Newspaper Operations for Washington Post, Tribune Cos. Take Hits
was felt most severely in help-wanted advertising in its biggest markets, continues to slam the company's ad revenues, down 7% through May. Classified advertising -- the biggest ad revenue stream for newspapers -- was off 14.1%, and help-wanted was down 37%.

'Wild card'
"The wild card" for a turnaround nationwide "is help-wanted," said Steven Rossi, president of the company's newspaper division. Mr. Rossi also warned of "sustained high unemployment" in key markets, which holds help-wanted linage down.

At The Washington Post, the sole daily of the company bearing its name, Chairman Donald Graham said ad revenues through May were off 7.9%. Mr. Graham, who eschews any forecasting at such gatherings, said ad revenues for May were up 1% but cautioned that "it's far too early to conclude we've hit bottom, or bounced off it."

One bright spot for the Post Co. was Newsweek, which through May reported ad pages down a mere 0.2%, well below the average decline for the magazine industry and better than the ad pages of other newsweeklies.

In this article:
Most Popular