Three things from the business side of newspapers, none of them particularly good news:
Paid Content has the details of the latest newspaper company earnings (all links got to Paid Content): NY Times, profit and revenue down; Gannett, revenue flat, profits down; Media General, revenue up, loss posted; Tribune Company, revenue and profits down.
On the same day, there’s news of MySpace’s move into news aggregation (details from Mathew Ingram) and, in a Susan Mernit post, there’s this report from a presentation to the Web 2.0 conference by the Facebook folk:
Morin’s preso becomes especially interesting to me when Peter Cashmore talks about Facebook’s interest in developing their own classified ads…
My students practically live on FaceBook: a classified service there could be a bigger blow than Craigslist.
There are silver linings — online revenue continues to climb, a MySpace news service will drive some traffic to newspaper sites — but they are shining from among an awful lot of dark clouds.
TAGS: NEWSPAPERS, BUSINESS, CLASSIFIEDS, NEWS, MYSPACE, FACEBOOK
