(Bloomberg) -- Richard A. Smith knows something
anyone considering buying a newspaper company needs to know.
He's taking his advertising dollars somewhere else.
Smith, president of Realogy Corp., the largest residential
real estate broker in the U.S., said the portion of his Coldwell
Banker and Century 21 branding budget devoted to newspapers will
shrink by as much as two-thirds next year from 2006 as spending
moves online. Newspapers will receive 70 percent of Realogy's
home-sale advertising by 2010, down from 84 percent this year.
Read more at Bloomberg Exclusive News
anyone considering buying a newspaper company needs to know.
He's taking his advertising dollars somewhere else.
Smith, president of Realogy Corp., the largest residential
real estate broker in the U.S., said the portion of his Coldwell
Banker and Century 21 branding budget devoted to newspapers will
shrink by as much as two-thirds next year from 2006 as spending
moves online. Newspapers will receive 70 percent of Realogy's
home-sale advertising by 2010, down from 84 percent this year.
Read more at Bloomberg Exclusive News
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