SECOND QUARTER: NO BRIGHT SPOTS; ALL REVENUE DECLINES Classified real estate revenue big culprit, but all others soft too.
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SECOND QUARTER: NO BRIGHT SPOTS; ALL REVENUE DECLINES Classified real estate revenue big culprit, but all others soft too.
With 11 of the 15 publicly traded newspaper companies reporting second-quarter results over the last two weeks, it's clear that much the way automotive classified revenue fell precipitously throughout 2006, real estate classified revenue will fall in 2007 (which is not to say that automotive revenue has stopped dropping, just that it has pulled up a bit while real estate has accelerated).
With only a couple of minor exceptions, none of the 11 reported revenue gains, except in on-line revenue, though nowhere did those gains offset the losses in print ad revenue. Those companies that report either direct mail or pre-print distribution pretty much universally reported losses in those traditionally strong categories as well. By the numbers: *Belo Corp.: Blaming the soft real estate market in Southern California, where it owns The Enterprise of Riverside, this Dallas-based multimedia company reported second-quarter net income of $36.4 mi...See the full content of this document
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