Philip Stone suggests that European newspapers are doing better financially than US (and British) counterparts. He points to Germany's Axel Springer, which reported a 73% improvement in second quarter profits. Its print division managed a 3% rise in revenues, mainly due to a 20% increase in Bild's subscription charges. But circulation of Bild has declined from 5m to 4.1m.
Stone writes: "Germany's newspaper business has one advantage that few other countries have - there are no free newspapers and that is by no accident. Springer, for instance, is said to have some €300m (£237m) set aside to launch within days its Gratissimo free paper should anyone be silly enough to try and enter the German market." (Via FollowTheMedia)
