Question-and-Answer Session
Operator
Thank you, sir. We will now begin the question-and-answer session. (Operator Instructions). And now, first question comes from the line of Alexia Quadrani with JPMorgan please go ahead.
Alexia Quadrani - J.P. Morgan Securities Inc.
Hi, thank you. And my first question is just on the FSI business. If you could give us some detail on how pricing and market share trend in the quarter and what your outlook is for market share in the fourth quarter.
Alan Schultz
From a pricing prospective we're continuing to see pricing pressure. We would definitely say pricing down, you look at the range of kind of what we originally said, kind a low to mid- single digit decline in terms of pricing and of course that was all set by the change that experienced in terms of unit volume.
From a market share perspective, market share has been relatively stable and perhaps up just a little bit. So I'd call it stable, but up just a little bit this quarter.
Alexia Quadrani - J.P. Morgan Securities Inc.
And it looked about the same for fourth quarter?
Alan Schultz
Fourth quarter, I think we're going to see pricing down, yeah, probably in that sort of mid single digit range, again. And from a market share perspective, I think you'll see our market share relatively stable once again.
Alexia Quadrani - J.P. Morgan Securities Inc.
And have you seen any -- I guess it sounds like you really haven't seen any change in the behavior of your largest competitor in this market.
Alan Schultz
I don't we've necessarily had seen a change in behavior from News America. Although, I think we have seen some change in behavior from customers, because clearly from the customer perspective, our law suit win, in Wayne County circuit court has put them at a position where I think they feel like they can question things that News America is doing, that perhaps, they were having a difficult time questioning before. So at this point time, I think the change in behavior is more customer related than it is competitor related.
Alexia Quadrani - J.P. Morgan Securities Inc.
Okay and could you just remind me what your distribution is right now for the FSI product and I guess any concern about the pretty horrendous newspaper volume drop with the audit numbers coming out on Monday?
Alan Schultz
Yeah, we're a little under 60 million circulation, Alexia. But, again I think from a newspaper distribution standpoint, the decline in circs really isn't particularly troubling to us. We will probably add-in a number of our smaller market newspapers to our market list that have been on our extended reach program in the past. And then of course you're going to see us continue to move circulation in the Shared Mail, particularly now that we see that the longer our FSI packages and the Shared Mail package you start to see redemption rates that rival that of newspapers and we are able to cover so many more household with Shared Mail then you can with the newspaper that we can provide both retailers and consumer package goods customers significantly more volume movement through Shared Mail.
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