More bad news for print journalism:
The news at Newsday went from bad to worse yesterday, as the parent Tribune Co. revealed that the paper’s circulation totals were inflated over a longer period and at higher levels than it admitted last month.
To deal with the damage, Tribune Co. laid aside $35 million to cover anticipated settlements with advertisers.
The pre-tax charge helped erode Tribune’s quarterly profits by a whopping 58%.
James Marsh, a media analyst with SG Cowen Securities, said the circulation trouble is frustrating “because it seems to be an issue that won’t go away.”
Meanwhile, thousands (hundreds of thousands? millions?) of blogs continue to allow their SiteMeter hit counters to be seen by anyone.
NOTE: Accountability isn’t that tough, Big Media. Just, you know, be honest.