Gloomy news on newspaper revenues from the States

An Industry Imperiled by Falling Profits and Shrinking Ads

That is how the New York Times describes the newspaper indusrty in the States.

in the last few months, reductions have become so routine that they barely make a ripple outside each paper’s hometown

says the paper adding that

The talk of newspapers’ demise is older than some of the reporters who write about it, but what is happening now is something new, something more serious than anyone has experienced in generations

The paper backs up the gloom with figures.Advertising revenues down 7% last year,with the link bewteen advertising and growth broken and the start of a long term shift in revenues towards the net.

Little interest in purchasing papers despite falling shares prices.

Cut backs in news coverage and down sizing.