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The DV&M Market Index compares daily newspaper markets across five categories – growth, demographics, competition, infrastructure/economic base and market type/circulation size.

2006 Top 10 Overall Newspaper Markets
 Rank  Newspaper Ownership Daily Circ Overall Score
1 Austin (TX) American-Statesman Cox Newspapers, Inc. 179,570 85.8
2 Raleigh (NC) News & Observer The McClatchy Company 167,920 85.5
3 Boise (ID) Statesman Gannett Company, Inc. 64,276 84.9
4 Naples (FL) Daily News E. W. Scripps Company 57,586 83.5
5 San Antonio (TX) Express-News Hearst Newspapers 231,088 83.1
6 Savannah (GA) News-Press Morris Communications Corp. 22,121 82.8
7 Las Vegas (NV) Review Journal/Sun Stephens Media/Greenspun Family 161,836 82.7
8 Rochester (MN) Post-Bulletin Small Newspaper Group, Inc. 44,124 81.8
9 Madison (WI) Wisconsin State Journal, Capital Times Lee Enterprises, Inc. 109,657 81.5
10 Idaho Falls (ID) Post Register Jerry Brady 25,379 81.4

2006 Top Five Independent/Family Group Dailies
 Newspaper  Daily Circ Sunday Circ Rank Overall Score Growth Score Demog Score Comp Score Subj Score Size/Type Score
 Savannah (GA)
    News-Press
55,121 66,990 6 82.8 74.8 61.8 98.6 84.6 96.4
 Rochester (MN)
    Post-Bulletin
44,124 47,051 9 81.8 82.6 74.1 83.8 79.8 88.7
 Idaho Falls (ID)
    Post Register
25,379 26,038 11 81.4 87.5 69.5 99.9 71.1 78
 Frederick (MD)
    Post, News
39,978 37,786 12 80.9 94.3 76.3 59.7 80.2 88.8
 Bozeman (MT)
    Chronicle
17,262 17,119 15 79.9 90.3 75.7 93.5 69.8 67.2


Each daily newspaper is given a score in each category between 0 and 100 based on the attributes of its market. Then, these scores in the individual categories are weighted to provide an overall score between 0 and 100 for the newspaper and its market. Within each category and on an overall basis, 50 is the average and median score.

The index and the more than 150 variables used to calculate the scores for each newspaper are the product of more than two years of work by DV&M and 25 years of experience in analyzing daily newspapers and their markets. The index was developed based on the expertise of the firm’s professionals and feedback from the industry’s top executives. The variables are updated annually from a variety of sources. A brief description of each category appears below.

Growth. This category measures primarily historical and projected growth rates within the markets, including population, households, retail sales and income. The focus is on near-term growth rates, in most cases looking back and forward five years. New households and retail outlets provide opportunities for daily newspapers to increase circulation and advertising within a market.

Demographics. The demographic characteristics of a market can have an important impact on advertising and circulation trends for newspapers. This category measures the relative affluence of a market, as well as the ethnic make-up. The presence of a large percentage of recent immigrants, for example, can have a negative impact on a newspaper’s ability to serve the market.

Competition. The level of competition in a market is an important indicator of the newspaper’s ability to generate profits. Many of the most attractive markets in terms of growth and affluence also tend to be among the most competitive. This category looks at the presence of other daily newspapers in a market and the strength of other media.

Infrastructure/Economic Base. The underlying infrastructure and the presence of major institutions are key indicators of the economic health of a market. This category examines a number of important variables, including the presence of interstate highways, airports, colleges and universities, major government installations and military bases, and negative factors such as the presence of Superfund sites. In addition, the category looks at other indicators, such as the level of technological investment in a market, government spending, graduation rates, crime rates and library books per capita.

Market Type/Circulation Size. Finally, the index incorporates an analysis that takes into account the type of market served by the newspaper, as well as the newspaper’s circulation size. Each daily newspaper receives a designation based on the type of market it serves, for example, stand-alone, suburban, regional, etc. Each of these designations is scored based on its desirability, with regional being the most attractive and suburban the least attractive. Additionally, each daily newspaper is assigned a designation based on its circulation size, with newspapers in the 25,000 to 40,000 range considered the most attractive. Daily newspapers in this size range tend to be the most sought-after by acquirers due to their ability to generate some of the highest profit margins in the industry.

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