By: (AP) Newspaper publisher Pulitzer Inc. Wednesday posted a 1.6% drop in revenue for September.
On Tuesday, Pulitzer delayed indefinitely the release of its third-quarter earnings report, which was due the same day, saying it needed to study the effect of a new accounting guideline that could require a non-cash charge.
Last month's revenue at the St. Louis-based company, which publishes the
St. Louis Post-Dispatch, the
Arizona Daily Star in Tuscon, and other newspapers, fell to $33.3 million from $33.9 million a year earlier.
Ad revenue at papers open at least a year -- also known as comparable advertising revenue -- fell 2.3% in September, the company said.
In afternoon trading, shares of Pulitzer fell $1.05, or 2%, to $50.98 on the New York Stock Exchange.
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