NAA cancels annual financial presentation
By Leah McBride Mensching, Wednesday 28 May 2008 at 23:55 :: Publishers’ Associations :: #1708 :: rss
The Newspaper Association of America, which represents U.S. newspaper publishers, has called off its annual Mid-Year Media Review, a presentation for financial analysts, due to low attendance numbers, Reuters reported Wednesday.
The conference usually takes place in June, but as investors become less interested in the newspaper sector, many publicly traded newspaper owners are opting for the Deutsche Bank Media & Telecommunications Conference in New York, June 9 and 10.
The Mid-Year Media Review was formed to give newspaper executives the chance to tell investors on Wall Street why newspaper companies should be invested in.
NAA Spokeswoman Sheila Owens told Reuters that Deutsche Bank offered the NAA a similar platform, and the NAA agreed.
As U.S. newspaper stocks have gone downhill and publishers are not yet able to bridge the print losses gap through online or other digital revenues, investors are not as interested as they once were.
Although NAA members have not yet discussed whether to hold the conference next year, there are currently no plans to do so, Owens told Reuters.
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