First quarter financial results released by News Corp yesterday show a weakening performance at News International (NI), the company’s UK newspaper publishing division.
Recruitment classifieds revenue has been particularly weak, affecting the Times and Sunday Times. The Sun and News Of The World tabloids, on the other hand, have been less affected by the downturn and are seeing ad levels above those of last year.
ABN’s analysts say that the UK broadsheet and mid-market papers remain more exposed to the current recruitment, financial and travel advertising downturn than the tabloids.