Xtra! Xtra! Weep All About It: Newspaper Industry to Lose $1b in Ad Revenue in 2013

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The newspaper industry will lose $1 billion in advertising revenue by the time the sun sets on 2013, according to a press release by Gannett Co., the nation's largest newspaper owner.

As reported by The Huffington Post and Poynter.org web sites, the industry expects to earn $1.18 billion less in ad revenues this year compared to 2012 numbers. Ad revenues are off 5.9 percent at Gannett, which owns flagship national daily USA Today and 81 other newspapers.

The Newspaper Association of American reports seven consecutive years of declining print advertising in the newspaper industry.