JP Morgan is forecasting that severe declines will continue at newspaper publisher Gannett in the second quarter.
Ad revenue will fall 32% in Q2, JP Morgan analysts have predicted, with consolidated EBITDA declining to a margin of 17%, compared to a margin of 25% in the second quarter of 2008, writes Editor & Publisher. Ad revenue fell 34% in the first quarter of the year.
Flagship publication USA Today will experience "severe declines," the analysts say. They predict that Gannett's weakness will "set the tone for another depressing reporting season in the newspaper universe." more