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Jun 23 2008
The New York Times reports that newspapers are on track to record their worst sales year ever, with ad revenue running 12% below 2007's poor performance and sales for May expected to be off by 14% or 15%.
"Never in my most bearish dreams six months ago did I think we'd be talking about negative 15 percent numbers against weak comps," said Peter S. Appert, an analyst at Goldman Sachs. "I think the probability is very high that
there will be a number of examples of individual newspapers and newspaper companies that fall into a loss position. And I think it's inevitable that there will be closures in this industry, and maybe bankruptcies."
Talent hits a target no one else can hit; Genius hits a target no one else can see.
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