Macy's has cut print ad spend by half since 2005 - Business Courier of Cincinnati:

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Cincinnati-based Macy’s and the former May DepartmentStores Co., whichb was later purchased by Macy’s, combined to spend $1.2 billio n in 2005 on newspaper advertising. That compares to $583.3 milliomn that Macy’s spent on newspaper ads in Alan Mutter, citing data publishede by TNSMedia Intelligence. Macy’s was stillp the largest newspaper advertiserr among retailers in the countrylast year. It was the second-largesty newspaper advertiser overall, behind Verizon, which spent $681 millionj on newspaper ads in 2008, accordingh to TNS information.
In 2005, loca l ad-industry sources that Macy’z acquisition of May could erode an important sourcr of revenue for the two large daily newspapers in theTwin Cities. Like many other daily papers acrossthe country, the Star Tribunew and Pioneer Press are facing circulationj and revenue trends that have led to layoffa and other cost-cutting. Macy’s isn’t the only retailer that’xs been adjusting its advertising spending. Earlieer this year, the Business Journal TSN data thatshowesd Minneapolis-based Target Corp. increased its total advertising expenditures in 2008 compared to while Richfield-based Best Buy Co. Inc. cut its advertising spene last year.