“British regional newspaper group Johnston Press axed its final 2008 dividend on Wednesday after saying its advertising revenues in 2009 to date were down 36 per cent,” Reuters reports.
“The group, which has been especially hard hit by its high exposure to local classified advertising and sectors such as employment, housing and motoring, posted 2008 results in line with forecasts, with operating profit down 28 per cent.”
and another report from MediaGuardian at this link.