Times-Union Profit Down 51% in Q2

[Lunican]

T-U publisher's Q2 profit down 51 percent

The company that publishes The Florida Times-Union saw its second quarter profit fall by more than half, as revenue continued to drop.

Augusta, Ga.-based Morris Publishing Group LLC had net income of $1.99 million on $82.2 million in revenue, compared with net income of $4.03 million on $95.6 million in revenue in the second quarter of 2007.

Total advertising revenue fell 17.2 percent to $65.2 million. Retail revenue was down 12.4 percent, while classifieds were down 24.6 percent.

Full Article:
http://www.bizjournals.com/jacksonville/stories/2008/08/11/daily23.html

[BridgeTroll]

I get the TU delivered 7 days a week.  They have raised rates and significantly decreased content.  It really is the equivalent of a small town newspaper now.  The editorial pages are now half filled with ads where nationally syndicated writers once posted...

sad

[JeffreyS]

I like the TU  and hope they can turn things around. That seems like a long shot in their industry.

[Joe]

They actually make a profit?? Wow ... I'm impressed in a weird sort of way. I expected them to be losing money hand over fist.