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Gannett Company Inc., one of the largest newspaper publishers in the world, is facing an income decrease of epic proportions. Newspaper stocks in general fell Friday, but Gannett led the pack. The companyís fourth-quarter net income was down 35.5 percent. Its publishing income fell an astonishing 49.6 percent.
The newspaper industry was struggling long before the rest of the economy. The rise of the Internet has hit publishers hard. More people are getting their news from web sites. Advertisers are investing in online ads rather than newspaper ads. online cash advance
Jobless workers donít need newsprint
In the past the skyrocketing unemployment rate might have actually helped the newspaper industry out. After all, the most common method of looking for job swas to pick up the paper and scour the classified ads. Thatís no longer the case. It seems these days people can get pretty much anything they need, including fast online cash advances, online.
There are plenty of free web sites out there where people can look for employment for free, such as Monster.com. Even laid off journalists donít need a paper to look for a job. Journalismjobs.com lists all of the newspaper positions available in the country. However, journalists who get laid off nowadays probably take it as a sign that itís time to move on to a different industry. online cash advance
Items for sale advertised for free
Craig Newmark founded craigslist in San Francisco
On top of losing revenue from newspaper sales, publishers are also losing money from the people placing classified ads. Ads selling household items, advertising garage sales and offering services used to be the bread and butter of newspaper organizations. online cash advance
Now the Internet has taken over that sector, too. Craigslist.org, for instance, allows anyone to post ads for free. You can find items for sale, job listings and personals ads in your area no matter where you are. Most importantly, itís free. In the words of research analyst James Goss ďItís hard to compete with free.Ē
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