Back in July, Wenda Harris Millard predicted ad revenue in publishing at Martha Stewart Living Omnimedia would be down in the midteens for the third quarter. On Tuesday, her prediction proved to be basically right on the money as the company reported that ad revenue declined 18 percent. Millard, president of media and co-chief executive officer, told analysts during Tuesday's earnings call that ad revenue for the fourth quarter will likely be down in the high teens. Despite -- or because of -- the tough ad climate, the company is planning rate base increases next year for Martha Stewart Living to 2,025,000 from 1.9 million. Everyday Food will increase to 1 million from 900,000 and Body Soul is raising its base to 600,000 from 550,000. MSLO narrowed its net loss to $3.7 million from $4.4 million during the third quarter, and total revenue was down 4.2 percent to $66.5 million from $69.2 million.
