August Ad Results Were Mixed

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By: Lucia Moses August brought mixed revenue news for the public newspaper groups, with year-over-year gains in the range of 1% to 2%, analysts estimate. Continuing July's pattern, national advertising continued to lead the way, countered by weak help-wanted and retail.

Lowering her earnings estimates for most companies, Merrill Lynch analyst Lauren Rich Fine wrote that she sees more mixed results in the months ahead. A more upbeat Peter Appert of Goldman Sachs wrote that publishers have reported improved ad trends for September, supporting his belief that the industry has hit the bottom of the ad cycle.

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