Summary Box: Print declines drag on publishers

AP News
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Posted: Oct 19, 2010 6:47 PM
Summary Box: Print declines drag on publishers

PRINT PROBLEMS: The country's largest newspaper publishers still haven't been able to reverse a slump in advertising sales more than three years after it began.

THE LATEST: Third-quarter earnings from The New York Times Co. and McClatchy Co. both showed that print advertising fell compared with a year ago, when ad sales had already taken a big plunge from 2008 levels.

THE FALLOUT: After results came out Tuesday morning, Times Co. shares fell 25 cents, or 3.1 percent, to close at $7.79. McClatchy slipped 27 cents, or 7.9 percent, to $3.15.