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Knight Ridder Releases June Ad Statistical Report, Revenue Down 2.4%

Thursday, July 18, 2002

Press release from the issuing company

SAN JOSE, Calif., July 17 -- Knight Ridder's total operating revenue for June was down 2.4%; for the year to date it was down 5.5%. Total advertising revenue was down 2.7% for the month and 6.4% for the year to date. Miami and Fort Wayne were bright spots, with total ad revenue for the month up 3.1% and 3.3%, respectively. Retail was down 0.3% for the month and 0.2% for the year to date. Some markets regained strength. Miami was up 8.6%, San Jose was up 5.9%, Contra Costa was up 6.4%, St. Paul was up 5.3% and Fort Worth was up 0.4%. The other large markets were soft. General advertising revenue was up 0.4% for the month and down 6.6% for the year to date. A number of markets showed strength in June. Kansas City was up 19.2%, Miami was up 7.4%, Philadelphia was up 3.0%, Fort Wayne was up 22.1% and Charlotte was up 0.5%. Telecommunications and technology continued to show a modest recovery from the prior year, with additional support from auto, entertainment and airlines/travel. Classified revenue was down 6.6% for the month and 13.0% for the year to date. Help wanted revenue was down 23.4%. Automotive was up 2.9%. Real estate was down 4.0%. San Jose's year-over-year decline, resulting from a dramatic drop in help wanted, continued to be the company's largest. Other large markets were soft, but considerably less so. Akron was up 4.8%, St. Paul was up 4.8%, Lexington was up 0.6% and Fort Worth was up 0.3%. Circulation revenue was down 4.6% for the month and 3.2% for the year to date. However, daily and Sunday circulation copies increased 0.8% and 0.4%, respectively. Other revenue was up 11.5% for the month, reflecting primarily Knight Ridder Digital, up 31.2%, and an increase in earnings from Detroit, up 33.8%, partially offset by an 8.4% decrease in commercial print.




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