Newspaper Ad Revenue Increases: America's newspapers recorded their highest advertising revenue in eight years in 1994, at nearly $34.2 billion, reported the Reston, Va.-based Newspaper Assn. of America, which represents more than 1,500 newspapers in the United States and Canada. The figure was up 7.25% from the previous year. Newspaper advertising expenditures totaled $10 billion in the last quarter of the year, an 8.1% increase over the same quarter of 1993. Classified advertising led the fourth-quarter increase with an 11.9%.