A drastic decline in home inspections, real estate auctions and the cancelling of public events contributed to the dip in ad revenues. Further, national wire AAP is also shutting down later this year amid a series of other closure announcements.
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News Corp Suspends 60 Printed Papers as Ad Sales Dry Up
Rupert Murdoch's News Corp announced it will stop printing approximately 60 Australian regional papers as advertising revenues have evaporated in the post-COVID economy. So reports The Straits Times.