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July 23, 2008

New York Times Profits Drop 82%

NEW YORK (AP) - New York Times Co. says its second-quarter earnings fell 82 percent from the year-ago quarter boosted by a one-time gain. Meanwhile, print advertising revenue continued to shrink.

The New York-based newspaper publisher says its quarterly net income dropped to $21.1 million, or 15 cents per share, which included 11 cents per share in buyout costs.

...

Chief Executive Janet Robinson says business was hurt by the "U.S. economic slowdown and secular forces playing out across the media industry."

The economic slowdown may have some part to play in the decline of advertising revenues, but what has circulation done? Answer: mostly plummeted.

I wonder what else could be causing this steep decline in revenue and circulation? It's a mystery. Fell free to share your theories and celebratory comments below.

posted by Slublog at 10:35 AM

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Chief Executive Janet Robinson says business was hurt by the "U.S. economic slowdown and secular forces playing out across the media industry." The economic slowdown may have some part to play in the decline of advertising revenues, but what has circulation done? Answer: mostly plummeted. I wonder what else could be causing this steep decline in revenue and circulation? It's a mystery. Fell free to share your theories and celebratory comments below. posted by Slublog at 10:35 AM \| 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 JackStraw: ">>Yeah, right AfD wants safety and security for it ..." grammie winger - cheesehead: "He wasn't a Muslim, then? Just a guy who liked to ..." fd: "Mostly peaceful Muslim. Mostly. ..." FenelonSpoke: "He wasn't a Muslim, then? Just a guy who liked to ..." FenelonSpoke: "Posted by: publius, Rascally Mr. Miley (w6EFb) at ..." 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