Industry sources who have seen the numbers tell E&P they anticipate that for the six months ending September 2006, top-line daily circulation will fall roughly 2.5% while Sunday will drop approximately 3%.And it's no better in the broadcast biz, where NBC has just announced $750mil in budget cuts.
The declines keep coming, even after several periods of losses -- and easier comparisons that were supposed to ease the slide.
Yet again, major metros are expected to shoulder most of the blame for the decline in numbers. Sources suggest that some major papers that got hit hard in the recent past will take it on the chin again. They also point to a decline in single-copy sales and the continuing impact of many papers reducing other-paid and third-party copies.
NBC Universal plans to cut US$750 million in operating expenses by the end of 2007 by eliminating employees, cutting back on scripted shows, and slashing its news budget, according to a report Thursday in the Wall Street Journal.
The moves come as more and more viewers and advertisers gravitate toward new media, NBC Universal chairman Bob Wright told the newspaper. He said the moves would restore the company to double-digit growth next year.