By the way, you can still make money publishing newspapers—even in a period when advertising has plummeted. Check out Gannett’s third-quarter earnings report. Its newspapers pulled in more than $100 million of operating income on revenues of $1.04 billion. In the first three quarters of 2009, advertising revenues were off 31.6 percent, but circulation revenues were off less than 5 percent, even though many of Gannett’s flagship papers lost subscribers.
Newspapers aren’t doing as badly as you think
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