23 Oct 2010 19:04:51
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.
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.
