Confirming the bad news about newspapers

I saw a graph in Wired confirming what so many analysts have already been suggesting: the collapse of newspaper advertising revenues in the USA. The Newspaper Association of America presented figures that indicate a loss of $3 billion (- 14%) of ad expenditures during the first six months of 2008. Total revenues for 2008 are expected to be below $ 40 billion, which is the lowest level in 12 years. Also online expenditures were down: - 2,3% in the second quarter, but showed an increase of 2.3% over the first six months.
(Chart: Alan Mutter)