N.Y. Times Leads Newspaper $hortfalls (laugh break)

NY Post ^ | April 14, 2006 | PAUL THARP

[Liz]

SULZBERGER Hit again.

The New York Times is leading the widening slump in the nation's newspaper profits due to rising paper costs and shrinking advertising deals.

The Times, Newsday parent Tribune Co., and McClatchy Co. - which is buying the Miami Herald and its Knight Kidder parent - yesterday reported lower quarterly earnings. The weak earnings came just a day following a similar gloomy report from the nation's largest group, Gannett, whose papers include USA Today.

Analysts say newspapers are pressured by circulation declines, higher costs and loss of ad dollars to the Internet and other new media.

The Times, publisher of the Boston Globe and International Herald Tribune, said profits fell to $35 million, or 24 cents a share, from $111 million, or 76 cents a share, a year earlier.

At the McClatchy group, which is paying $4.5 billion for the Knight Ridder papers, profits fell 14 percent to $27.7 million............Profits at Tribune Co., which has cut jobs at its Newsday and other papers, plunged by 28 percent to $103 million.............

All three publishers highlighted the strength of their own Internet businesses. The New York Times said revenue at its About.com site rose 98 percent since it acquired the site a year ago, but still accounted for only 7.5 percent of total revenue.

[Petronski]

[Echo Talon]

So this is what happens when your credibility is reduced to less than 0.

[Jeff Chandler]

There's a dwindling market for Marxist homosexuals' writing.

[NYpeanut]

Or, as I told a regional stringer of our city paper with a sweet smile, Why would I spend money to support on a paper with such silly editorial views when all the news is online for nothing?

[Mr Ramsbotham]

So this is what happens when your credibility is reduced to less than 0.

But at least we know it's all in a good cause.

[beyond the sea]

"Analysts say newspapers are pressured by circulation declines, higher costs and loss of ad dollars to the Internet and other new media"

---- and a severe problem with credibility.

[mainepatsfan]

What a nice story to begin the day with.

[Dallas59]

Goodbye.

[SkyPilot]

[mainepatsfan]

"Fake but accurate."

[Echo Talon]

:)

[Izzy Dunne]

Hmmm - from the first line of the article: the widening slump in the nation's newspaper profits due to rising paper costs and shrinking advertising deals.

--- So, it's those darned advertisers, and the paper-making people who are to blame...

But, buried in paragraph four:

Analysts say newspapers are pressured by circulation declines, higher costs and loss of ad dollars to the Internet and other new media.

What's the first reason here? "circulation declines"!

[Echo Talon]

What the media really look like

[beyond the sea]

Walter Duranty

[Petronski]

I gotta see that episode!

I'm sorry I missed it. I only heard about it after the fact, from Michelle Malkin.

[martin_fierro]

Based on an amused spectator's list Send FReepmail if you want on/off MSP list
The List of Ping Lists

[beyond the sea]

"Fake but accurate."

LOL.

****

“If your mother tells you she loves you, check it out!” – old Chicago newspaper lingo

[gakrak]

I really love good morning news, especially when they result in such a happy endings. Amen.

[madconserv]

Dear N.Y.Times BUH-BYE.