On August 28, 2009
Web Ads, Recession Pummel Newspapers in Q2
Newspapers’ financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with US$2.8 billion less revenue than they had at the same time last year. It’s the deepest downturn yet during a three-year free fall in advertising revenue — newspapers’ main source of income.
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