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New York Times Co. Posts $88 Million Loss, Citing Write-Down

The net loss was $88.1 million, or 60 cents a share, compared with a net loss of $119.7 million, or 79 cents a share, in the period a year earlier, when the company wrote down the value of its regional newspapers, which it later sold.

Increases in circulation and digital subscriptions contributed to a 0.6 percent increase in revenue, to $515.2 million. But a $194.7 million write-down of, the online resource guide the company bought in 2005, weighed on profits. The Times Company had an operating loss of $143.6 million in the quarter ended June 24, compared with an operating profit of $31.5 million in the period a year earlier.

Advertising revenue at the company’s News Media Group, which includes The Times, The International Herald Tribune and The Boston Globe, fell 6.6 percent, to $220 million. Print advertising revenue fell 8 percent, in part because of continued weakness in real estate advertising. Online advertising revenue at the news media group declined 1.6 percent, to $52.6 million, despite a push in video and other efforts to bring new advertisers to  

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