Washington Post Losing Ads, Circulation, Income, Everything
The bloodletting continues at the Post. Here's all the bad news from the last quarter of 2006:
* Net income plunged 6.7%.
* Classified advertising dropped 22%.
* Overall ad revenue is down 8%.
* Circulation is down 2.9% -- except for Sunday, which is down 3.2%.
* Operating income in the publishing division fell by 24%.
* Craigslist's CEO says this is because U.S. newspapers just plain suck.
Wash Post Co. Newspaper Q4 Ad Revenue Falls 8% [Editor & Publisher]