U.S. papers suffer 6.1% drop in ad spending

The "old" media continues to go the way of the dinosaur.....

NEW YORK -- Advertising spending in local U.S. newspapers dropped 6.1 percent in the first quarter, the biggest decline for the publishing industry in more than four years, according to TNS Media Intelligence.

Advertisers spent $5.55 billion on local publications, down from $5.91 billion in the first quarter of last year, the market researcher said Wednesday.

Internet advertising jumped 19 percent, to $2.31 billion, as large advertisers increased Web spending, TNS said.