Macy’s halved newspaper ad spend since ’05

Macy’s has cut in half the amount of money it spends on newspaper advertising since 2005, depriving the struggling industry of some $616 million in sorely needed revenues.The drastic plunge has hit particularly hard the metro papers that used to rely on sumptuous and highly profitable schedules from the likes of Famous-Barr, Filene’s, Foley’s, Hecht’s, Kaufmann’s, May, and Marshall Field &