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Not dead yet: newspaper company annual reports show chains still profitable

Edge, Marc (2012) Not dead yet: newspaper company annual reports show chains still profitable. UNSPECIFIED.

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The death of newspapers was widely predicted at the height of the 2008-09 economic crisis and such predictions persist. An examination of financial data for publicly-traded newspaper companies in the U.S. and Canada, however, shows that their business model is adaptable, as all remain profitable. Advertising revenues declined by more than 50 percent at U.S. newspapers from 2006-2011, but all eleven publicly traded newspaper companies recorded annual profits throughout that period, with only one dropping below the historical average profit for a Fortune 500 company of 4.7 percent. Some major U.S. newspaper companies experienced profit levels that barely dipped below 20 percent even during the sharpest declines in advertising revenue experienced in 2009. Canadian newspapers fared relatively better due to a stronger economy, with advertising revenue declines of less than half those experienced by their U.S. counterparts. Profits there remained robust, with no Canadian newspaper company falling below 10 percent annual return on revenue during the period.

Item Type: Other
Subjects: P Language and Literature > PN Literature (General)
Divisions: Faculty of Arts, Law and Education (FALE) > School of Language, Arts and Media
Depositing User: Ms Shalni Sanjana
Date Deposited: 18 Dec 2012 23:53
Last Modified: 20 Jul 2016 23:52

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