AP Revenues, Income Fall In '09
April 30, 2010 at 4:35 AM (PT)
The ASSOCIATED PRESS' revenue dropped about 10% to $676.1 million and net income plummeted 65% to $8.8 million in 2009 despite lower news coverage expenses. The revenue drop was the first yearly decrease since 1993, and the company is forecasting another drop for this year.
The AP also elected NEW YORK TIMES CO. Vice Chairman MICHAEL GOLDEN and WASHINGTON POST Publisher KATHERINE WEYMOUTH to its board of directors for three year terms, replacing retiring directors BO JONES of the WASHINGTON POST and H. GRAHAM WOODLIEL of MEDIA GENERAL. LAKEWAY PUBLISHERS INC. Pres./CEO ROBERT JACK FISHMAN, LEE ENTERPRISES CEO MARY E. JUNCK, ADVANCE,NET Chairman and JERSEY JOURNAL Publisher STEVEN O. NEWHOUSE and SCHURZ COMMUNICATIONS SVP CHARLES V. PITTMAN were re-elected to the board.