(Representational image/ Shutterstock)India’s vibrant newspaper industry has been ravaged by declining advertising revenues due to the nationwide lockdown, pushing several leading titles to slash jobs and salaries. Advertising revenues at some top dailies published by market leader The Times Group and publisher ABP Group have nosedived as businesses slash ad spending to conserve cash, senior executives said. Who knows what will happen, but everybody is expecting pay cuts,” said one Times Group business journalist, who declined to be named. The Times Group did not respond to a request for comment. The Indian Newspaper Society, which represents around 1,000 publishers, has estimated the industry could lose $2 billion over the next six to seven months.

Source: The Telegraph April 16, 2020 22:28 UTC