Circulation continues to drop severely at U.S. newspapers, though the rate of decline slowed from the previous six-month reporting period.
Figures released Monday by the Audit Bureau of Circulations show average weekday circulation fell 8.7 percent in the six months that ended March 31, compared with the same period a year earlier. Sunday circulation fell 6.5 percent.
Keep up the good work, print media. Oddly enough, that old stalwart the Washington Post Co. (WPO) has an ROE of 3% but is trading within 97% of its 52wk high. Some folks are getting irrationally exuberant here. Hey, WPO, don't forget to turn the lights off on your way out. I'll be sure to let your last advertisers know that there's some space for rent here on my blog.
Full disclosure: No position in WPO.
