Tribune, which also owns the Chicago Tribune, said first-quarter profit plummeted 28% as it paid for stock option expenses and shouldered costs related to job cuts. Net income for the three-month period was $102m, while sales slipped 1.3% to $1.3bn. The group cut 1,200 jobs - 5% of its workforce - in the past year.

Gannett, the largest US newspaper publisher, said first-quarter profit fell 11% to just over $235m. Sales were up 6.5% to $1.88bn. The New York Times group said profit fell 69% to $35m from $111m in the same period last year, which included a $68m gain on the sale of property.