The Springfield News-Leader's parent company, Gannett, is in for more financial problems the remainder of the year, according to one prominent forecaster:
JP Morgan is forecasting that severe declines will continue at newspaper publisher Gannett in the second quarter.
Ad revenue will fall 32% in Q2, JP Morgan analysts have predicted, with consolidated EBITDA declining to a margin of 17%, compared to a margin of 25% in the second quarter of 2008, writes Editor & Publisher. Ad revenue fell 34% in the first quarter of the year.
Saturday, July 11, 2009
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