US classifieds fall 60% in just two years

American newspaper print ad revenues fell to their lowest level in 14 years last year and online ad revenues fell for the first time in five years, according to figures for 2008 ad revenues from the American Newspaper Association.

The Association released the numbers on its website on the weekend. They show full gory detail of the damage done to the American newspaper business last year, as the impact of firstly the internet, then the credit crunch and recession slashed all forms of advertising in American papers, large and small.

www.crikey.com.au/Media-Arts-and-Sports/...S-newspaper-biz.html
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When Sir Keith Murdoch died he left his one newspaper, the Adelaide Advertiser to Rupert and Murdoch Magazines to his late daughter Helen Handbury.

Rupert turned his one paper into a world-wide empire while his thoroughly nice nephew Matt Handbury stayed in Oz and turned a handful of magazines into a small empire. (Murdoch & Handbury don't speak to each other)

5 years ago Matt sold his magazines for half a billion$$ while Murdoch embarked on a campaign to buy the (hopelessly overpriced) Wall Street Journal. He succeeded about 4 months before the great Wall Street crash.

Perhaps Matt's a bit smarter than Uncle Rupes.

I say it was Colonel Website what did it, in the computer room with the mouse; aided by his 24 hour sidekick, T V News.