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New York Times loses $40million in 2011

The New York Times Company suffered a net loss of almost $40million in 2011, with its fourth quarter profits falling by 12.2 per cent compared to the same period in 2010.

The company is grappling with sinking advertising revenue and a recent change in the top management after losing CEO Janet Robinson, who received a multimillion dollar severance package.

They said it continued to add subscribers for its digital products in the fourth quarter.


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