The AIM Group/Classified Intelligence estimates the online classifieds network will generate $100 million in revenue this year, an increase of more than 23 percent from Craigslist's estimated revenue of $81 million in 2008. "This is a down market for just about everyone else but Craigslist," AIM Group editorial director Jim Townsend says. To come up with what it calls a conservative projection, the firm counted the number of paid ads on the site for a month and extrapolated an annual figure.

Continue ReadingReport: Craigslist’s 2009 Revenue Will Top $100 Million

Tom Grant, who has edited the Augusta, Ga., alt-weekly since October 2005, will be leaving his post in late July. "The last four years have been an exciting time for Metro Spirit and we've accomplished a lot together," Grant says in a statement. "Metro Spirit is ready for a new voice and the paper and I have agreed that it's a good time for someone new to write the next chapter of Spirit's history." The paper is currently undertaking a nationwide search for a replacement.

Continue ReadingMetro Spirit Editor to Leave Paper

In a Q&A with The Future Buzz, Village Voice Media social media strategist John Boitnott talks about how VVM is merging traditional journalism work with social media work. "What we are realizing at [VVM] is that one's effectiveness as a journalist now may depend to some degree on your social media prowess," he says. "It's absolutely a revolutionary concept -- and one that many old schoolers may scoff at or ignore."

Continue ReadingVVM Strategist Talks Social Media, Journalism

Preliminary figures show that the decline from 1Q 2008 to 1Q 2009 amounts to a drop of $3.8 billion in total U.S. ad spending, according to Nielsen. Local newspaper advertising was off by 14.3 percent, while internet advertising was only down by 3.4 percent. The worst-faring sector was local newspapers' Sunday supplements, which was off by 37.7 percent.

Continue ReadingNielsen: U.S. Ad Spending Down 12 Percent in First Quarter

As part of Chapter 11 bankruptcy proceedings, a judge has approved selling the assets of American Community Newspapers -- including The Other Paper -- to its creditors, who formed the company American Community Newspapers II to pursue the purchase. The Dallas-based company, which bought The Other Paper in 2007, filed for bankruptcy in April.

Continue ReadingThe Other Paper Sold to Parent Company’s Creditors

Circulation and revenue at many free daily newspapers are down as the industry grapples with a difficult advertising market, the New York Times reports. As a result, free daily publishers like Metro International -- which recently agreed to sell its New York and Philadelphia papers -- are cutting costs and consolidating.

Continue ReadingFree Dailies Struggle During Downturn