Posted by chicagomedia.org on October 26, 2009 at 10:03:08:
Sun-Times cites rate hike, industry trends in circulation drop
October 26, 2009
SUN-TIMES STAFF
The Chicago Sun-Times reported a drop in overall weekday circulation in the past six months -- as the single-copy price jumped from 50 to 75 cents -- but an increase in home-delivery subscriptions.
The company said the decline was in line with expectations because of the price increase, which took effect March 30, and industry trends.
The Chicago Sun-Times' Monday through Friday average circulation over the six-month reporting period fell to 275,641, a decline of 12 percent compared with the same period a year ago, according to the FAS-FAX report being released by the Audit Bureau of Circulations today. The newspaper's Sunday circulation slipped 1.8 percent to 251,260, while Saturday's average declined 7.9 percent to 210,027.
The Chicago Sun-Times reported a 5.5 percent increase in its weekday home-delivery circulation.
The circulation figures were announced as a local investor group led by James Tyree, Sun-Times Media Holdings LLC, is expected to complete its purchase of substantially all of the assets from Sun-Times Media Group Inc. today.
"As we publicly release our circulation figures today for all of our ABC audited publications, we have positive news to report. When we complete the sale's transaction later today, the Chicago Sun-Times and our suburban news titles will be under new ownership, free and clear of old legacy issues and facing new opportunities and new investment," said Jeremy L. Halbreich, chief executive officer of Sun-Times Media Holdings.
"We are pleased that our newspapers were able to perform in line with our expectations for the period and in line with the performance of many other newspapers during this long economic recession," said Rick Surkamer, president and chief operating officer.