No good news for newspapers

Another blow to newspapers—from one of their big-media brethren. Hollywood is rethinking all those giant movie ads that run on weekends—especially the full-page, full-color $100,000 variety that appear in the L.A. Times and the N.Y. Times:

In a surprising role reversal, Hollywood is about to deliver bad news to the Los Angeles Times and The New York Times and, to a lesser extent, other big-city dailies around the country. Every major movie studio is rethinking its reliably humongous display ad buys in those papers because those newsosaur readers are, to quote one mogul, “older and elitist” compared to younger, low-brow filmgoers — so it makes no sense to waste the dough.

Movie spending is just one piece of the newspaper industry's continuing spiral:

According to Wall Street’s Goldman Sachs, newspaper ad revenues are growing at a dismal pace. Goldman Sachs pegged the weakness to decreased spending in entertainment, which makes up 14 percent of national revenues for the newspaper industry.