Ed Driscoll

Legacy Media Bleeds More Red Ink

Editor and Publisher writes:

The Tribune Co. announced this morning that circulation at its two largest papers, the Los Angeles Times and the Chicago Tribune, experienced steep declines.

During a conference call to investors, Jack Fuller, president of Tribune’s publishing division, who announced his retirement late yesterday, said that at the Times, daily circulation for the six-month period ending September 2004 stood at 902,164 and that Sunday circ was 1,292,274, or roughly “a range of” 6% drop.

The Tribune reported daily circulation of 591,504 and a Sunday circ of 963,926, or a 2.5% and 4% decline, respectively.

The Gray Lady’s bottom line has been looking redder and redder as well.

It’s a vicious cycle–especially where the truth is concerned.

Update: CNN’s financial spin-off, CNN/fn is closing up shop, after losing the ratings battle to CNBC. It’s interesting to note that CNBC was originally assembled by Roger Ailes, before he built Fox News. I wonder if his legacy of being conservative and pro-business has remained at CNBC and helped to keep it afloat.