By: Jennifer Saba Belo continues to reel from a less-than-stellar economy and circulation problems at its flagship paper, The Dallas Morning News.
Total revenues for the company's Newspaper Group fell 8.9% for the month of November. Total advertising revenue dropped 10.9%.
In this reporting period there was one fewer Saturday and Sunday than in the previous year. On a comparable basis and including online revenue (which Belo will roll into its overall numbers in 2005), total revenue for the Newspaper Group decreased 0.8%, with drops in Dallas, down 4.4%, and in Providence, R.I., down 2.2%. Riverside, Calif. reported an increase, up 14.4%.
At the Morning News, total advertising revenue dropped 15.9% on a reported basis. The company also announced that $2 million of advertising credit associated with its compensation plan had been used.
Retail at the paper decreased 15.6% due to weakness in the furniture and entertainment categories. General ROP revenue was down 5.7% -- any gains made in the media and automotive categories were offset by softness in travel and government. Classified revenue plummeted 26.9%. On a like-day basis and including online, classified dropped 14.7%, with decreases in employment revenue, down 4.9%, and automotive, down 31.5%.
At The Providence Journal, total revenue decreased 9% with an 8.8% drop in advertising revenue.
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