WASHINGTON (AP) — As newspaper publishers build up their online operations and struggle through an advertising slump, one group is worried about being left behind — the folks who make printing presses and other equipment used to make newspapers.
Hoping to allay some of those concerns, a panel of four CEOs of major newspaper companies addressed a group of equipment vendors Sunday at an annual convention of industry suppliers called NEXPO.
"We, too, are feeling the pain," said panel moderator Dennis Nierman, president of AlfaQuest Technologies Inc., referring to the steady revenue declines that are plaguing the industry.
Nierman, whose company makes a product that allows printing plates to be made from digital files, said it was "discouraging" to see the exhibition floor relatively empty, as it was for part of the day Saturday, the first day of the show.
George Irish, president of Hearst Corp.'s newspaper division, noted that his company had $250 million committed to printing press updates, with more on the way. Dean Singleton, CEO of Denver-based MediaNews Group Inc., said his company spent $500 million on press-related products over the past three years.
Still, many publishers are increasingly focusing their efforts on building up online advertising revenues, which are growing rapidly even as print advertising declines.
So far, the gains in online ads are far from making up the shortfalls in print advertising. Making up the difference is currently the No. 1 topic in the newspaper industry.