TEXT-S&P: shifting reading habits affect Canadian newspapers
Dec 11 - Ongoing declines in print advertising and circulation revenues continue to hound Canadian newspaper publishers said a report published today by Standard & Poor's Ratings Services. And while the Canadian newspaper business is declining at a slower pace than in the U.S., mainly due to a better economy that includes lower unemployment, a shift in consumers' reading habits to online from print is contributing to the pressures. "This shift in reading habits means publishers continue to lose market share to digital advertising," said Standard & Poor's credit analyst Lori Harris. "Furthermore, the weak economy has exacerbated the effect on the industry's print advertising spending," Ms. Harris added. In its commentary,"The Print Is Getting Smaller For Two Canadian Speculative-Grade Newspaper Publishers," Standard & Poor's outlines the effect these changes are having on two newspaper publishers Postmedia Network Inc. and Black Press Ltd. The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to firstname.lastname@example.org. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com.
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