Business, News mags bleed ad pages
According to the Publishers Information Bureau, advertising revenue for magazines declined in the first quarter, hurt by the automobile industry’s continued troubles and concerns about the economy. Total revenue fell 1.2 percent to $5.2 billion, down 1.2 percent, with pages down 6.4 percent.
Ad page declines were felt in Automotive; Technology and Home Furnishings & Supplies, while ad pages gained Food & Food Products, Retail and Media & Advertising.
Business and news magazines took it on the chin too. Ad pages for BusinessWeek tumbled 19.4 percent in the quarter while rival Forbes dipped 13.2 percent, and Fortune declined by 1 percent.
Keep an eye on:
- CNET Networks plans to debut in-depth news and information on 11 industry sectors on its business manager Web site BNET.com. (Reuters)
- Google’s US search-query volume growth accelerated modestly in March, which suggests that Google will likely meet or exceed analysts recently reduced estimates. (AlleyInsider)
- We are the Chicago Sun-Times: We going to be profitable! Roger Ebert is coming back! So buy the company! (Chicago Tribune)
- David Bowie, Blondie and Gnarls Barkley publisher Chrysalis Group said on it had ended talks with would-be buyers after rejecting a 104 million pound ($205.4 million), 155 pence-per-share cash offer. (Reuters)
- News Corp plans to raise its stake in Premiere AG to the 25 percent to 26 percent range. (WSJ )
- Time Warner to cut 450 New Line jobs. (Reuters )
- AOL buys blog content engine Sphere. (TechCrunch )