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Journal Communications, Inc. was struck hard by weakness in retail and classified advertising revenue at the Milwaukee Journal Sentinel, and by a decline in local radio advertising.
The company announced today that for the third quarter, ended March 30, 2008, total revenues for its publishing and broadcast groups decreased 8.9 percent to $44.52 million, compared to $48.84 million reported for the third quarter ended April 1, 2007.
For the third period 2008, advertising revenues of $36.90 million slipped 10.2 percent, compared to $41.10 million for the same quarter in 2007.
The losses were due in large part to continued weakness in retail and classified advertising revenue at the daily newspaper, the negative impact of the early Easter holiday, softness at its Las Vegas, Tucson and Ft. Myers television stations and a decline in local radio advertising – a portion of which resulted from changes in a sports affiliation agreement.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
CNN plans to offer newspapers a wire service as an alternative to the Associated Press. CNN, which already runs an internal wire service, will explain its new, expanded service to editors from about 30 papers who are visiting Atlanta this…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
