For the current quarter, CEO Janet Robinson (left) says print-advertising revenue is expected to fall 25%, but online advertising is expected to grow 10%. Total debt, meanwhile, is forecast to fall nearly $500 million from a year ago, to $800 million, by year end, Robinson says, according to a new Wall Street Journal story.
"Over the past year, the company has instituted a series of cost-cutting measures as advertising revenue in the industry has dried up and threatened the company's ability to manage its debt," the WSJ says. "The company has borrowed money, sold assets and reduced wages, among other steps, hoping to avoid cuts to its news staff, which is larger than that of many competitors."
Robinson's remarks, in a company statement, came in advance of its presentation today at the UBS media conference.
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