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.