By: Mark Fitzgerald Milwaukee-based Journal Communications Inc. reported its total November revenue for its newspaper and broadcast businesses fell 10% to $36.01 million on a 12.8% slump in ad revenue compared to the year-ago period.
In its report on its 11th period Journal Communications noted that its 2007 period ended Nov. 25 and included Thanksgiving. The holiday fell in the company's 12th period this year -- making for a tough comparable at its newspapers.
Journal Communications said ad revenue at its only daily, the Milwaukee Journal Sentinel fell 22.3% in comparison to the 2007 period with the thick Thanksgiving day advertising.
Retail ad revenue was down 23.3% -- and classified advertising revenue plunged 35.2%. Inside classified, help-wanted fell 47.8%; real estate was down 32.9%; auto was off 36.8%; and the "other" category dipped 1.2%.
National advertising revenue of $880,000 increased 9.1% while direct marketing revenue of $820,000 was up 32.5%.
Total interactive advertising revenue at the Journal Sentinel, which is counted in the various ad categories, fell 5% to $1.13 million from $1.19 million a year ago.
Circulation revenue at the daily newspaper was $3.90 million. "Other" Journal Sentinel revenue was up 17.7% to $1.2 million primarily on new commercial printing business.
At the company's community newspapers and shoppers operations, total advertising revenue was $2.82 million, up 1.9%.
Retail was essentially flat, while classified revenue jumped 10.8%, on revenue from recent acquisitions.
Separately, Journal Communications warned that it may completely write off its goodwill of $240 million when it makes an impairment test at the end of the year. The non-cash charge will affect almost entirely the book value of its broadcast business, the company said. For more on the impairment charge, go to E&P's business-oriented blog,
Fitz & Jen blog.
Total revenue for Journal Communications radio and television stations fell 7.9%.
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