LOWER MOVIE TICKET SALES COULD HURT NEWSPAPER BIZ

LOWER MOVIE TICKET SALES COULD HURT NEWSPAPER BIZ

The 4 percent decline in ticket sales at the U.S. box office during the fourth quarter not only bodes poorly for studios but also for newspapers, which often depend on ad revenue from the movie industry. Editor & Publisher noted Tuesday that Bank of America analyst Joe Arns is warning that The New York Times is particularly vulnerable to a hit since movie advertising together with luxury goods ads account for 15-20 percent of the newspaper's ad revenue. He reiterated Bank of America's "sell" rating on the Times.

09/01/2008