Ad revenue for U.S. newspapers totalled US$6.4 billion in the third quarter, a 28 percent drop from the same time last year, The Associated Press yesterday reported. The decline in revenue for online ads was somewhat less severe, with a 17 percent drop for the same period a year prior, paidContent observed.

The dismal report represents the 13th consecutive quarter of declines, according to The Washington Business Journal. Despite the disastrous trend, John Sturm, CEO of the Newspaper Association of America which compiled the data, was quoted today by Bloomberg as saying, "The broad consensus is that the worst has passed."