ABSTRACT
The state of the newspaper industry at the end of the 1990s is not good, although individual publishers remain healthy and profitable. This apparent paradox is easily explained. On the one hand, since 1987, newspaper circulation has steadily declined. Circulation based on per household measure has been falling for decades. The number of newspapers has fallen. The amount of time those who look at newspapers spend with them is down. The percentage of total advertising revenue that goes to newspapers has shrunk. There are fewer cities than ever with fully competing newspapers each day.
