clipped from: www.thisislondon.co.uk   
newspapers have been suffering in the credit crunch as profits shrank at The Sun and the News of the World and losses grew at The Times and Sunday Times

Times Newspapers, publisher of The Times and Sunday Times, reported that losses jumped 17% from £43.9 million to £51.3 million in the year to 29 June 2008 - before the collapse of Lehman Brothers and recession hit the advertising market.

News Group Newspapers, publisher of The Sun and the News of the World, announced profits fell to £55.1 million for the same period, down from £61.8 million a year earlier.

Turnover at Times Newspapers dropped marginally to £444.8 million from £447.1 million
The overall loss of £51.3 million
The Sun and News of the World posted an operating loss of £18.5 million.

Advertising revenue fell, with the exception of digital ad sales, and it also blamed "higher technology development costs in relation to digital activities".