LUBBOCK, TX (KCBD) - More bad news for the parent company of Lubbock's daily newspaper. Morris Communications owns the Lubbock Avalanche Journal. Wednesday, that company announced a net loss of more than $140 million for 2008. It compares to a profit of $67 million.
The company says in Lubbock, advertising revenue is down by $4 million, which is more than 14 percent. Morris Communications blames a bad national economy for lost advertising. Recently the company hired experts to consider a possible bankruptcy filing.
|Tell us what you think...|
KCBD.com Message Boards