Advertising revenues continue to fall at local newspaper publisher Newsquest.

Its American parent company Gannett revealed today that property advertising had slumped by 60pc for the first quarter of 2009, compared with the same period last year.

Employment advertising is down 51.4pc while car ads are down 43.2pc, representing a drop in total classified advertising of 45.1pc.

Advertising as a whole is 38.7pc down for the year-on-year period.

Newsquest publishes over 300 newspapers in the UK including daily titles in Southampton, Brighton and the Glasgow Herald and Times Group.

Gannett chief executive Craig Dubow said the overall results reflected “continuing recessions in the US and UK”.

He added: “Although business conditions remain very challenging, we continue to transform all facets of the company as we position it for a more favourable economic environment and the opportunities we see in the changing media landscape.”

Comments

Chris Youett, Esq, (16/04/2009 16:41:47)
My only sympathy is for the Gannett’s UK staff (particularly its journalists) who have been treated so shabily by their management.
They are lions led by donkeys.
If Gannett had put a fraction of the millions of profits it has creamed off from selling the family silver into actively marketing its titles, the company wouldn’t be feeling this amount of pain.
Even the muppets running Ford couldn’t have made such a mess!