Newspapers continue to be insanely unprofitable:
Gannett made $117.2 million, or 49 cents per share, compared with $77.4
million, or 34 cents per share, a year earlier. Analysts expected 41
cents per share. Revenue fell 4 percent to $1.32 billion, matching
forecasts.
If only one could make moneyat this journalism business:
Already Moody’s Investors Service sees better indications for the
business. The debt-rating agency raised its outlook on the newspaper
industry to “stable” from “negative,” saying that a recovery in ad
spending will ease revenue declines. The rating change could make it
less expensive for newspapers to borrow money.
But hey, there’s always the iPad to save us!
A.