Regional newspaper publisher Newsquest has revealed a 23.6% year on year drop in ad revenue for the third quarter.
The company’s classified ad revenue was 29.1% down year on year, with the fall caused by declines of 51.3% in real estate ads, a 25.2% fall in employment ads and 25.3% in motors.
Newsquest’s US owner Gannnett said the results reflect “the difficult and volatile economy” in the UK.
Gannett added that if the exchange rate between sterling and the US dollar had remained constant, year-on-year ad revenue at Newsquest would have been 16.5% lower including declines of 9.5% in retail, 7.3% in national and 27% in classified.
Newsquest publishes 300 newspaper titles in the UK including The Argus in Brighton and Scotland’s Sunday Herald.
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