The Financial Times reports today: "The newspaper and magazine industry could be “decimated” in 2009 with one out of every 10 print publications forced to reduce publication frequency by more than half, move online or close entirely, according to a report by Deloitte.
The industry outlook has gone from difficult to “impossible”, the report says, as newspapers and magazines, already weakened by the rise of online advertising and falling readership, experience further declines in circulation and advertising."
Trinity Mirror and Johnston Press were expected to fall out of the FTSE 250 today reflecting the fall in value of newspaper publishers.
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