Friday, October 20, 2006

NY Times Co. 3Q Profit Plunges 39%, Belo Also Down

hmmmm, and what was I saying, just the other day?

Thanks to the always dependable Right Wing Howler for that bit of news to wake up to this am.

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.

...Newsprint expense decreased 2.2% in the third quarter, with 11.1% of the decrease attributable to lower consumption, partially offset by an 8.9% price increase.

...Circulation revenues were down 1.3%, which the company attributed mainly to weakness at the New England Media Group.

NY Times, politics

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