Surely I don't have to tell you that all print media -- alt-weeklies included -- have been having a hell of a time finding new ways to bring in revenue as a dollar's worth of print advertising moves to a nickel's worth on the Web. So it pains me to report that the Star's parent company, McClatchy, has announced a 32 percent drop in second-quarter revenue as advertising sales declined.
The company's CEO, Gary Pruitt, has said he'll keep cutting costs to offset another anticipated revenue decline for the third quarter, ending this September. That's about as ominous as corporate-speak gets.
What does this mean for the Star? Who the hell knows. One would like to think they expected this and it won't require yet another round of layoffs. Maybe Steve Penn's recent dismissal saves a job or two. Guess we'll have to wait and see.
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Headline is very misleading... the AP story says that earnings dropped 32%, not ad revenue. The AP article actually doesn't put a number on the decline of ad revenue.
Oh so this far left leaning media outlet's dwindling readership is impacting it's bottom line....what a shocker!
I'm afraid the paper part will have to go away completely before websites will be worth more than a nickle, but the Star's website sucks - I'd rate it at a penny.
I don't think anyone argues that it isn't less than it was, but to a certain degree people also get the media they deserve.
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