Search

This work deals with the recent economic evolution of print press industry in Galicia. In addition to the general economic crisis of 2008, the sector has suffered its own structural crisis caused by the emergence of the Internet. To study the impact of this double crisis and the response of firms in the industry, we have conducted a financial analysis of 13 Galician newspaper publishing companies during the period 2008-2018, focusing on profitability and its main components. The results show a fall in turnover that extends throughout the whole period, including the economic growth phase, a symptom of the decline of paper as a journalistic medium. However, after a crisis stage characterized by negative profitability, companies were able to recover thanks to a reduction in the volume of total assets and operating costs more intense than the drop in sales, becoming smaller and more efficient. [ABSTRACT FROM AUTHOR]