Industry observers tracking first-quarter financial results for newspaper publishers say it's once more clear that "even the most pessimistic predictions were not dark enough,'' Richard Perez-Pena of The New York Times reports in a new story. "They are expecting declines sharp enough to wipe out profit margins at many papers that, despite two years of battering, had stayed comfortably in the black, and to push already-weak publishers closer to bankruptcy, perhaps even closure."Gannett reports first-quarter earnings tomorrow, before markets open at 9:30 a.m. ET. Chief Financial Officer Gracia Martore and CEO Craig Dubow will discuss those figures during a 10 a.. ET conference call with Wall Street analysts. Last month, Martore told a Wall Street investor conference that advertising revenue was down about 30% -- even more, at flagship USA Today.
[Image: today's Honolulu Advertiser, Newseum. The paper is losing money, spurring workers to accept 10% pay cuts two months ago]
I hear that will be announced but also hear it will not affect the stock price. What it probably will affect is our jobs. They will have to cut somewhere and it sure won't be their bonuses.
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