Newspaper giant’s profits take nosedive
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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 company’s 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.
Jobless workers don’t 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 jobs was to pick up the paper and scour the classified ads. That’s no longer the case. It seems these days people can get pretty much anything they need, including fast payday loans, 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 don’t 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 it’s time to move on to a different industry. ... click here to read the rest of the article titled "Get Fast Payday Loans and News on Gannett's Downfall"