Moody's: U.S. newspaper sector outlook stable

Moody's Investors Service said it changed its industry sector outlook for the U.S. newspaper sector to stable from negative.

The change in outlook reflects the agency's expectation that a cyclical recovery in advertising spending will moderate newspaper revenue declines as 2010 progresses and lead to a more stable revenue environment in 2011.

Moody's cautioned that the stable outlook for the newspaper sector reflects the benefits of a cyclical recovery across all forms of advertising and that newspapers will likely continue to lose share relative to other channels. The agency also said the stable outlook does not necessarily presage positive rating actions unless accompanied by significant deleveraging and/or proactive debt maturity management.

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