Newspaper slump deepens as 2Q ad sales fall 29 pct

Newspapers' financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year.

It's the deepest downturn yet during a three-year free fall in advertising revenue - newspapers' main source of income. The magnitude of the industry's advertising losses have intensified in each of the last 12 quarters.

The latest turbulence left U.S. newspapers with ad sales of $6.8 billion in this year's second quarter compared to $9.6 billion last year.

http://www.forbes.com/feeds/ap/2009/08/27/general-us-newspaper-advertising_6824040.html