L.A. Times rearranges deck chairs
The Tribune Company, owner of the Los Angeles Times, reports a catastrophic drop in revenue and circulation:
|Tribune Company today reported its summary of revenues and newspaper advertising volume for January (ending February 4). It said consolidated revenues for the period were $442 million, down 5.0% from last year's $465 million, due to a slide in publishing revenues.|
The company said that for its publishing division, total revenue fell 6% to $345 million. Advertising revenue plummeted 7.3% to $268 million...
A 7.3% drop in ad revenue?
Women and children to the lifeboats, if you please!