Newspapers were hardest hit. They were faced with an immediate escalation of costs. Paper mills exploited ruble weakness to switch newsprint to the export market and imposed swingeing price increases on Russian users. Printing costs also rose. Editors were forced to reduce the number and size of editions.
Subscriptions account for the bulk of sales.
Kiosk sales dropped away as consumers reacted to the general rise in prices. Television companies have also been hit. Moscow companies have been worst affected, with ORT's troubles well publicised. Regional companies have lower overheads, but will be in crisis as long as the advertising market remains in the doldrums. Radio has come out of the situation best of all.