By: E&P Staff Journal Register Co. reported today that advertising revenue declined 4.2% to $37.6 million in July compared to the same period a year ago. On a pro forma basis, ad revenue dropped 5.2%.
On a pro forma basis, the company?s Michigan cluster was down 12.3%. Excluding Michigan, advertising revenue for the company was down 2.2%.
?Although our Michigan cluster continues to be challenged by the automotive industry?s economic issues, overall, I am pleased with the company?s performance this period,? Robert Jelenic, Chairman and CEO, said in a statement.
?If you exclude Michigan, our company?s advertising revenue trends for the period are consistent with comparable results of many of our peers. Further, we are encouraged by the performance of our greater Cleveland cluster, which has been suffering from the same automotive industry problems, and had its strongest performance since period two of 2005 up 1.3% over the same period last year.?
Retail advertising revenue declined 5.2% on a pro forma basis. National advertising revenue fell 11.9%. Classified advertising decreased 4.6%. Within the classified category, real estate dropped 1.5%, employment fell 5.9%, and auto plummeted 16.4%.
Online revenue at the company jumped 41% to $1.5 million on a pro forma basis.
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