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Media World Upheaval – Credit Crunch Hits Revenue Even More As Alternative Media Grows
Philip Stone September 23, 2008
There was a day last week when Media General’s shares actually closed up 111.3% higher than the day before ($8.66/$18.30) all because it announced that while its August results were still rotten, and no reason to believe the rest of the year will be any better, it was still the best month so far this year. Over at the New York Times, where they announced Internet revenue was up even though print revenues were awful, there was a 12% jump. So is everything all better now in newspaperland? Don’t you believe it!
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