Print revenue losses swamping newspapers

AP business writer Andrew Vanacore takes a look at the 3Q earnings reports from McClatchy, New York Times and others, and says things don’t look good for the industry.

“[P]ublishers still haven’t been able to reverse a slump in sales more than three years after it began” and they are not “able to draw enough new business from … digital operations to make up for the losses in print,” he writes.

“The outlook entering the holiday season isn’t much better.”

The NYT and McClatchy saw worse declines in September than a year before despite less-bad year-to-year numbers for the prior two months.

“On a conference call with analysts, McClatchy CEO Gary Pruitt had to fend off repeated attempts to get a more detailed picture of where things stand going into the holidays.

“‘We intentionally did not release any results for October or speak to them because we don’t think they are meaningful at this time, and we lack visibility as we look forward into the fourth quarter,’ he said.”

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