McClatchy Newspaper Group Profits Drop on Real Estate Advertising Slowdown
The McClatchy Co, a major publisher of newspapers across the country saw a severe drop in real estate advertising during the second quarter. So much so that it impacted it earnings drastically. With the news that Realogy is cutting their newspaper advertising spending even further coming out after these results, the impact on newspapers will be felt strongly in the coming quarters.
Newspaper publisher McClatchy Co. reported a 9.5 percent decline in second-quarter profits Thursday as a sharp falloff in real estate advertising in California and Florida hurt results, but the results still came in ahead of expectations.
The company, which publishes 31 newspapers including The Miami Herald and The Sacramento Bee, earned $39.9 million in the three months ending in June, down from $44.1 million in the same period a year ago, or 49 cents per share versus 94 cents per share. via San Jose Mercury News
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
My cousin in Maryland going thru same thing as Jack Thomas. Have loan Mod Agreement from Countywide dated April 2009, ...
Print Ads is the popular way to advertise among seniors in the business industry but today it seems like it ...
Comment by Doug Quance on 20 July 2007:
Newspaper advertising of real estate hasn’t been effective for a few years… just a big waste of cash.
The only reason it was done – in spite of the lackluster results it provided – was to placate sellers.
I quit newspaper advertising a few years back… and quit all print advertising as of the beginning of this year. It’s just not worth it.
Comment by Mike Elliott on 20 July 2007:
The numbers are finally starting to reflect the reality of the situation. Newspaper advertising for real estate has all the efficacy today of graffiti on a subway wall.
http://mikeelliottsblog.wordpress.com
Comment by Tom on 20 July 2007:
Mike
That was an awesome comment. I love the turn of the phrase, “Newspaper advertising for real estate has all the efficacy today of graffiti on a subway wall.”
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[...] if these guys were so smart, they probably would have given up their newspaper marketing a year ago [...]