St. Louis Post-Dispatch owner reports smaller loss

Lee Enterprises, which owns the St. Louis Post-Dispatch among other papers, reported results for its second fiscal quarter Thursday.
The company posted a loss, but still fared better than it did in the previous quarter, according to the Associated Press via Yahoo! Finance.

The Davenport-based company lost $51.8 million, or $1.16 per share, in the quarter that ended March 29, compared with a loss of $713 million, or $15.90 per share. Excluding one-time costs, its loss was 7 cents per share.

Advertising sales were down 24 percent, with individual categories falling anywhere from 19 percent (retail ads) to 33 percent (classified).
In line with a common trend this quarter, the company showed losses in online advertising of 27 percent. Several other companies have shown similar losses online, where they had been experiencing solid growth for several years.
To read more, click here.

Yahoo! Finance gets CNBC video

Yet another sign that business journalism and multimedia delivery is more important than ever, and it's as simple as supply and demand.
When the economy falters, the consumer feels he or she doesn't have enough information and wants more insight. All eyes turn toward the markets, and Yahoo! is striving to get ahead and fulfill the demand by strengthening its finance channel with a new distribution agreement with CNBC. As part of the content-sharing plan announced today, CNBC, including its global networks, will provide video clips and articles for use on Yahoo! Finance. According to the release, the agreement represents "CNBC's first global online alliance and Yahoo!'s first global finance video agreement." Video topics will include commentary, market buzz, analysis, interviews and investing segments.
For the full release, click here.