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Tuesday, July 31, 2007

Papers losing out to web sites, d'oh!

Who would have seen this coming? Newspaper publishers are recording large drops in revenue and at least partly attributing it to real estate ads moving online. The housing market is also in a decline and that should be considered here but is anyone really shocked by this news? Analysts are afraid that real estate ads are going the way of the help wanted ad, that has already largely migrated online, are these people living in a cave? I'll admit, it hasn't been the meteoric rise that some predicted a decade ago but still this should not be taking anyone by surprise, as the Internet generation grows up it's only going to get worse for traditional media. Ever heard of a little site called craigslist? Globe and Mail story here.