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Strategies & Market Trends : Aardvark Adventures

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From: paret	11/1/2004 7:13:04 PM
	of 7944

Doug Arthur, a newspaper analyst for the Morgan Stanley investment bank, said the integrity of newspaper circulation figures remains a major concern for investors in the stocks of those companies. ap.tbo.com The Audit Bureau report showed a 5.6 percent fall at the Los Angeles Times and a 2 percent drop at the Chicago Tribune. Those declines were reported last week when the parent company of both papers, Tribune Co., reported its third-quarter earnings. Tribune also owns two of the papers that were censured by the Audit Bureau for making circulation misstatements, Newsday and Hoy. Tribune, which has put in place more stringent controls on its circulation reporting, said it had not discovered any other circulation problems beyond those already reported at Newsday and Hoy. Gannett Co.'s USA Today remained the largest-selling paper in the country with daily circulation of 2.3 million, up 2.8 percent from the comparable six-month period a year ago. The Wall Street Journal, published by financial news provider Dow Jones & Co., remained No. 2 with 2.1 million, up 0.8 percent.

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