The release of the six-month circulation figures for U.S. daily newspapers showed big declines at Tribune Co.'s Los Angeles Times and Chicago Tribune. The newspaper industry's twice-yearly circulation report showed modest circulation declines at many dailies, continuing a two-decade-long trend. The latest report, released by the Audit Bureau of Circulations, is being studied especially closely by advertisers and Wall Street. It marks the first industry circulation data since several major newspapers reported overstatements this year, beginning with scandals in June at Tribune's Newsday and Spanish-language Hoy. Subsequently, Hollinger International Inc.'s Chicago Sun-Times and Belo Corp.'s Dallas Morning News also admitted...