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October 19, 2006

NYT Profits Plunge 39.2%

Like Spinal Tap, their appeal hasn't diminished. It's just become more selective.

The New York Times Co. reported Thursday that its third-quarter 2006 profit from continuing operations plunged 39.2% on costs related to its job cuts and a loss on its sale of its 50% stake in the Discovery Times Channel.

Meanwhile, Belo, publisher of The Dallas Morning News, said net income for the quarter fell to $19.2 million, or 19 cents per share, compared to $22.1 million, or 20 cents per share, during the same period last year.

At the New York Times Co., 3Q operating profit was down 48% from the same period in 2005 to $20.5 million on total revenues that slipped 2.4% to $739.6 million.

Meanwhile NBC is slashing its budget, and jobs as well. They plan to stop scheduling scripted shows for the 8-9 PM hour -- kind of giving up on one-third of primetime.

posted by Ace at 02:37 PM

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Meanwhile, Belo, publisher of The Dallas Morning News, said net income for the quarter fell to $19.2 million, or 19 cents per share, compared to $22.1 million, or 20 cents per share, during the same period last year. At the New York Times Co., 3Q operating profit was down 48% from the same period in 2005 to $20.5 million on total revenues that slipped 2.4% to $739.6 million. Meanwhile NBC is slashing its budget, and jobs as well. They plan to stop scheduling scripted shows for the 8-9 PM hour -- kind of giving up on one-third of primetime. posted by Ace at 02:37 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments British Steel: "Grinder. ----------- Looking for meat.... ..." illiniwek: "Fever now has three pretty good (white girl) start ..." Jukin the Deplorable a Clear and Present Danger: "Make me ashamed of being an all CIF swimmer in the ..." Piper: "111 What was that trannies name that we traded the ..." 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