Sun-Times News Group Comments on Report for the Six-Month Period Ended March 27, 2005 Issued Today by the Audit Bureau of Circul
December 21 2005 - 5:58PM
PR Newswire (US)
CHICAGO, Dec. 21 /PRNewswire/ -- The Sun-Times News Group ("STNG")
provided the following information regarding the audit report
issued today for the Chicago Sun-Times by the Audit Bureau of
Circulations ("ABC") for the twenty-six-week period ended March 27,
2005. That report recorded the average daily, Saturday and Sunday
circulation of the Chicago Sun-Times as: 382,796; 263,781; and
333,490, respectively. In October 2004, Hollinger International,
the parent Company of STNG, announced the results of an internal
review of circulation reporting at the Chicago Sun-Times which
concluded, among other things, that the daily circulation reported
in the last available report from ABC, which was issued in April
2004 and covered the year-ended March 30, 2003, was improperly
inflated by approximately 50,000 copies. That April 2004 report has
been withdrawn by ABC. In 2004, the Chicago Sun-Times took certain
steps designed to improve the profitability of its business, some
of which resulted in an anticipated decline in circulation,
including instituting a single-copy price increase in April 2004
and dramatically reducing unprofitable bulk sales. During the same
period, circulation continued to decline at the Chicago Sun-Times
as a result of under-investment in prior years. These declines
mirrored in declining circulation figures across the newspaper
industry. STNG believes that operational improvements at the
Chicago Sun-Times over the past year have now stabilized its
circulation, consistent with recent data from Scarborough Research,
which shows general growth in several key categories of Chicago
Sun-Times readership. John Cruickshank, Publisher of STNG, said,
"At STNG, we are emerging from a difficult period for our Company,
which can be characterized by under- investment in prior years.
Those days are well behind us, and over the course of 2005 we have
taken a series of steps to improve editorial quality as well as the
ways in which we market and merchandise all of our media properties
and deliver news to our readers. "We have undertaken these efforts
during an extraordinary period for our industry, with traditional
newspapers all facing increased pressure. I am proud of the way
we've risen to the challenge and the results we are now seeing. As
we continue identifying opportunities to deliver even better
content to our readers and leverage the full breadth of our local
media properties, we believe that we will be able to continue to
drive growth now and over the long term." The Sun-Times News Group
includes the Chicago Sun-Times, Pioneer Press, Daily Southtown and
Star, Naperville Sun, Post Tribune of Northwest Indiana, and
suburban newspapers in Joliet, Aurora, Elgin and Waukegan. It is
owned by Hollinger International Inc. (NYSE:HLR). CONTACT: Molly
Morse / Jeremy Fielding Kekst and Company 212-521-4826 /
212-521-4825 / DATASOURCE: The Sun-Times News Group CONTACT: Molly
Morse, +1-212-521-4826, , or Jeremy Fielding, +1-212-521-4825, ,
both of Kekst and Company, for The Sun-Times News Group
Copyright
Hollinger (NYSE:HLR)
Historical Stock Chart
From Dec 2024 to Jan 2025
Hollinger (NYSE:HLR)
Historical Stock Chart
From Jan 2024 to Jan 2025
Real-Time news about Hollinger Intl CL A (New York Stock Exchange): 0 recent articles
More Hollinger Intl CL A News Articles