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Journal's advertising revenue plummets

NEW YORK (Bloomberg) — Dow Jones & Co. said advertising revenue at the Wall Street Journal fell 10 percent in February, the most in almost two years, in a sign the slimmer version of the newspaper has yet to lure back advertisers.Pages sold slid 6.6 percent, New York-based Dow Jones said yesterday in a statement. The revenue decline was the biggest since a 16 percent drop in June 2005, while the fall-off in pages was the worst since an 8.2-percent decline in September.

Dow Jones, also the publisher of Barron’s and owner of Dow Jones Newswires, trimmed the size of the Journal to save money on newsprint and to make the newspaper more attractive to commuters and younger readers. Today’s decline in ad revenue contrasts with a 5.7 percent rise in January.

“We were up against a tough comparison to a year ago, when revenue was up 26 percent,” said spokesman Howard Hoffman.

International advertising revenue rose 17 percent, and sales from local newspapers in its Ottaway chain dropped 2.4 percent. Ad sales from Barron’s, the financial weekly, rose 0.5 percent, the company said.