Federated Expected to Drastically Reduce Newspaper Advertising
More down news for big city newspapers: Federated Department Stores, owner of Macy’s and Bloomingdale’s, is expected to trim (perhaps "hack" is the better term) its current $825 million expenditures for newspaper advertising by 25% to 50%. Federated’s department store brands reportedly are the single largest advertiser for newspapers. Spot TV is also expected to suffer. According to Advertising Age the new mix will favor national TV and magazines.
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