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Posts Tagged ‘sales’

Magazine Retail Sales Down Six Percent in Q1

We know a lot of you are probably already off of work, enjoying your fancy “Summer Fridays,” but we’re still here dammit. So listen up! Or read up, whatever.

Yesterday FishbowlNY told you that newspapers sales were down almost 10 percent for Q1, and today – on a Friday no less – we’ve got more bad news. According to Folio:, magazine newsstand sales were down as well, by about six percent. The decline by the numbers:

Sales for the quarter totaled $987 million, down almost 6 percent from same period last year, which recorded just over $1.04 billion in retail sales.

Folio: says that high gas prices were likely behind the slump, and notes that the recent big news cycle (bin Laden, Royal Wedding) will probably pick things up for Q2.

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J.P. Morgan Analyst Gives Boston Globe Hope

boston globe.pngBeleaguered newspaper The Boston Globe had a hopeful story today about the possibility of its survival.

According to the paper, J.P. Morgan analyst Alexia Quadrani has said that the Globe‘s owner, the New York Times Co., appears to be committed to the Boston paper “long term.”

Last month, the Times Co. threatened to close the Globe if its unions did not agree to $20 million in budget cuts. Many have suspected that the cuts — currently being mulled by union members — were leading up to a potential sale.

But in a research report sent to investors Wednesday Quadrani said Times Co. brass had indicated that the Globe was an important asset.

“Management did not indicate the time frame needed to turn around the profitability of The Boston Globe and did highlight that this property has been hit much harder than some of its other properties due to its larger exposure to classified revenues,” Quadrani said, according to the Globe. “But it did make clear that it views the Globe and other New England assets as important to the company, so we don’t expect an attempted divestiture anytime soon.”

It may only be one person’s (well-informed) decision, but we bet Globe staffers and readers are breathing a sigh of relief today.

Metro Sells U.S. Papers To Ex-CEO

metro.pngSwedish newspaper publisher Metro International has agreed to sell its three U.S. papers to Seabay Media, a company founded by Pelle Törnberg, Metro’s former CEO.

Metro publishes three daily U.S. editions of its free paper, in New York, Philadelphia and Boston. The U.S. papers have a combined circulation of 590,000 daily and reach around 1.2 million readers, which Metro said is “the biggest advertising market in the world.”

Metro’s president and CEO, Per Mikael Jensen, admitted that the U.S. operations had suffered losses, but added, “After a rough 2007, we have seen many improvements in Metro USA and losses have decreased significantly

The full release is after the jump.

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