Just to verify what everyone knows, US newspaper advertising is in steady decline, reaching, in inflation-adjusted levels, the same amount as in 1962. That year, of course, the big tech news was that color TV was coming, even though the sets might costs as much as a good used car. The Newspaper Association of America came up with these numbers, noting that advertising, particularly want ads, were migrating to the much cheaper web. I doubt it would be different in Canada. The Sun chain is dying, propped up by Quebecor, and Postmedia today announced it is listed on the TSX, but has not offered its IPO, most likely on the grounds that no sensible investor would buy into this company unless it killed the money-sicking National Post first. Globe and Toronto Star continue to do well, particularly the Globe which in its latest incarnation is focused much more heavily on backgrounders and analysis than on breaking news, which it can’t compete with.
CTV, March 16 2011