Papers expect holiday downturn

09/22/2005 | Wall Street Journal, The

With Federated Department Stores planning to move much of its newspaper advertising budget into online and direct mail, and cutbacks among movie studios, traditionally major newspaper advertisers, newspapers are expecting a decline in advertising dollars during the usually lucrative holiday season. Even as online advertising increases, Merrill Lynch analyst Lauren Rich Fine noted that for newspapers a lost "dollar in print became 35 cents online."

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