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Lower Station Income Affecting News

The Pew Research Center's Project for Excellence in Journalism has issued its 2010 State of the News Media report.  You can find the entire report at www.stateofthemedia.org/2010/index.php

The executive summary might be a good place to start.  Some statistics from that executive summary will show you the financial side of the picture...

Newspapers, including online, saw ad revenue fall 26% during the year, which brings the total loss over the last three years to 43%.
Local television ad revenue fell 22% in 2009; triple the decline the year before. Radio also was off 22%. Magazine ad revenue dropped 17%, network TV 8% (and news alone probably more). Online ad revenue over all fell about 5%, and revenue to news sites most likely also fared much worse.
Only cable news among the commercial news sectors did not suffer declining revenue last year.
The estimates for what happens after the economy rebounds vary and even then are only guesses. The market research and investment banking firm Veronis Suhler Stevenson projects that by 2013, after the economic recovery, three elements of old media —newspapers, radio and magazines — will take in 41% less in ad revenues than they did in 2006.