US newspaper publishers yesterday told their Midyear Media Review meeting that the worst of the eighteen month long recession appears to be over, according to a report on the Wall Street Journal.
Gannett, which owns the Newsquest regional newspaper group in the UK, said that the worst is now past but that ‘the path to recovery is still uncertain’, says the report. Ad declines at Gannett have reduced from 13.1% in Q4 2001, to just 0.2% in April and 0.7% in May.
Similar improving trends were reported by the New York Times executive, whilst Knight Ridder saw a slower, but nevertheless gradual improvement in its ad revenues during May.
