Newspaper Stocks Dip After Knight Ridder Warning

By: Lucia Moses

Shares of the top five publicly traded newspaper companies by circulation dipped Thursday after No. 2 Knight Ridder reported its advertising revenue dropped 1.2% in August and lowered its third-quarter earnings forecast, citing weakness in help-wanted and other ad categories.

By E&P‘s deadline on Friday, shares in all five companies were recovering nicely.

Another warning came early in the week from Dow Jones & Co. Inc., which said third-quarter earnings would come in at the low end of previous estimates due to a soft September.

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