The Associated Press announced Thursday that it suffered serious losses in revenue and profit in 2009, but it also underscored the fact that it won't take the declines lying down. During its annual meeting the news agency announced the expansion of its AP Gateway initiative through the launch of their News Registry and a niche Web site for college football fans.

The bleak financial records included a nearly 10 percent drop in revenue, now down to US$676.1 million, and a 65 percent fall in net income, bringing it to $8.8 million. Much of this was the result of offering lower rates to its member newspapers, who were also suffering from reduced revenue as a result of the media crisis.

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