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Times Company Profit Falls on Weak Ad Revenue (NY Times)
New York Times ^ | 4/21/11 | Jeremy W. Peters

Posted on 04/21/2011 7:40:35 AM PDT by jalisco555

The New York Times Company reported a sharp drop in net income in the first quarter as the print advertising market remained stubbornly depressed for newspapers.

The company said net income fell 57.6 percent to $5.4 million, compared with $12.8 million in the quarter a year ago.

The weakness in print advertising, coupled with an unexpected drop in revenue at About.com, led to earnings of 4 cents a share before special items are excluded, compared with 8 cents a share in the period a year ago.

Revenue for the quarter dropped 3.6 percent to $566.5 million. Total advertising revenue declined 4.4 percent, but the performance by advertising sector varied widely. At The New York Times Media Group, which includes the namesake paper, NYTimes.com and The International Herald Tribune, the decline was 1.9 percent.

Digital advertising across the company grew 4.5 percent. As a percentage of the company’s total advertising revenue, digital was 28 percent, up from 25.6 percent a year earlier.

At the New England Media Group, which includes The Boston Globe, advertising revenue fell 5.1 percent. At the Regional Media Group, which includes local newspapers from Florida to California, the decline was 9.7 percent.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; US: New York
KEYWORDS: dncmedia; enemedia; liberalbias; liberalelite; liberalmedia; liberals; mediabias; newyorktimes; obamedia
Lo, how the mighty have fallen.
1 posted on 04/21/2011 7:40:42 AM PDT by jalisco555
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To: jalisco555

Their new pay wall will save them. Just you wait!/ s


2 posted on 04/21/2011 7:43:05 AM PDT by SanFranDan
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To: SanFranDan
They need a Stimulus Plan written by Paul Krugman.
3 posted on 04/21/2011 7:45:11 AM PDT by scooby321
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To: SanFranDan

Wow, routinely offend half your potential customer base and the revenue drops. Who’d have believed it possible?


4 posted on 04/21/2011 7:48:00 AM PDT by jalisco555 ("My 80% friend is not my 20% enemy" - Ronald Reagan)
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To: jalisco555

Pinch also announced that NY Times subscribers who make more than $1,000,000 per year henceforth will $10,000/year for their subscriptions. “They make a lot, they’ve been fortunate, so they won’t object to making to possible for the rest of the county to continue to be able to read the Times every day.”


5 posted on 04/21/2011 7:51:33 AM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: jalisco555

if the Dems still ran Congress I’m sure we’d be looking at a publicly funded NPR for dinosaur print journalism by now


6 posted on 04/21/2011 7:52:50 AM PDT by Buckeye McFrog
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To: jalisco555

Faster, please.


7 posted on 04/21/2011 7:55:24 AM PDT by Interesting Times (WinterSoldier.com. SwiftVets.com. ToSetTheRecordStraight.com.)
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To: Buckeye McFrog
if the Dems still ran Congress I’m sure we’d be looking at a publicly funded NPR for dinosaur print journalism by now

You bet. There was a lot of talk about it during the last Congress but they never got around to it. Hopefully they've missed their chance for good.

8 posted on 04/21/2011 7:55:33 AM PDT by jalisco555 ("My 80% friend is not my 20% enemy" - Ronald Reagan)
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To: jalisco555

They still made a profit? Oh, fudge. That will only encourage them to keep trying.

Maybe next quarter.


9 posted on 04/21/2011 8:03:50 AM PDT by Cheburashka (Democratic Underground: The Hogwarts of stupid.)
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To: jalisco555; All

Good Lord, how many more ‘steep drops in revenue’ can these guys take? Soros must be getting tired of bailing them out.


10 posted on 04/21/2011 8:05:01 AM PDT by notdownwidems (Vote Republican! We're 1/10 of 1% better than the other guys!)
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To: Buckeye McFrog

Obama open to newspaper bailout bill

http://thehill.com/blogs/blog-briefing-room/news/59523-obama-open-to-newspaper-bailout-bill


11 posted on 04/21/2011 8:09:02 AM PDT by ilovesarah2012
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To: jalisco555

Starve the beast!


12 posted on 04/21/2011 8:13:37 AM PDT by DJ Frisat (How's that change workin' out for ya, Obama voters?)
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To: DJ Frisat

A little while ago I came across a copy of the NY Times Sunday magazine and was amazed at how thin it was. In the old days there were pages and pages of ads for high-end real estate and fancy summer camps and boarding schools. Now nada.


13 posted on 04/21/2011 8:16:22 AM PDT by jalisco555 ("My 80% friend is not my 20% enemy" - Ronald Reagan)
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To: jalisco555

14 posted on 04/21/2011 8:30:27 AM PDT by AngelesCrestHighway
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To: jalisco555

GEEEZ!!

Would someone please put a pillow over it’s head and suffocate it already!


15 posted on 04/21/2011 8:56:01 AM PDT by Tex-Con-Man
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To: abb

ping

NY Times net income fell 57.6 percent to $5.4 million, compared with $12.8 million in the quarter a year ago.


16 posted on 04/21/2011 9:06:57 AM PDT by library user (Just because you're homeless doesn't mean you're lazy.)
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To: 04-Bravo; 1cewolf; aimhigh; andyandval; Arizona Carolyn; Bahbah; bert; bilhosty; Caipirabob; ...

ping


17 posted on 04/21/2011 10:23:31 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
Please note the line..

"...led to earnings of 4 cents a share BEFORE special items are EXCLUDED...."

I suspect it's even worse. I'm not going to waste my time digging into the numbers, but anyone remotely familiar with corporate accounting knows that including so-called "special items" ( usually translated as "one-time, non-recurring" are often used to cook the books, as long as the auditors are willing to sign off...which they usually do, unless it's blatantly egregious) could mean that the loss was far greater. It's the TREND LINE that the Times can't escape...

18 posted on 04/21/2011 10:35:43 AM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: ken5050

NYT revenue charts.

http://ycharts.com/companies/NYT/revenues#zoom=5


19 posted on 04/21/2011 10:52:16 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Really shows the trend down..Thanks...Also curious that the big spike UP last year occured about the same time that they were getting rid of Slim’s loan..they obviously “needed” good looking numbers for their new lenders. As I said..you can “juice” the numbers with “non-recurring” items for a year or two..if the auditors agree..but you can’t plug a hole with toilet paper..it falls apart soon.


20 posted on 04/21/2011 11:01:02 AM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: jalisco555
The newspapers in my area -- Metropolitan Detroit -- are about the same size as the old larger magazines of my childhood; Life, Saturday Evening Post, etc.

While a great deal of the size and content shrinkage is no doubt due to the 'new media', I'd like to think that another significant reduction in the revenues to the newspaper publishers reflects their biased reporting and refusal to do investigative journalism the way they did in the past.

21 posted on 04/21/2011 11:10:46 AM PDT by DJ Frisat (How's that change workin' out for ya, Obama voters?)
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22 posted on 04/21/2011 11:29:25 AM PDT by TheOldLady
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To: abb

One percent return on revenue. Revenues dropping like a rock or the margin would be even smaller. Newsprint costs soaring; fortunately offset by a drop in circulation. Approximately 60 days operating expenses in cash, with that amount dropping at an annualized rate in excess of 20 percent. Credit lines tapped. Debt service coverage dismal.

I'd love to short their stock, and would too, if only they only weren't such a tempting takeover target to some not-too-bright over-endowed libtard with a hefty inheritance.

23 posted on 04/21/2011 12:14:05 PM PDT by Zakeet (I know Obama is level headed because he drools out of both sides of his mouth at the same time)
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To: jalisco555
The company said net income fell 57.6 percent to $5.4 million, compared with $12.8 million in the quarter a year ago.

This is good news. I knew there was a bright side to this dark economy.
24 posted on 04/21/2011 12:16:05 PM PDT by PA Engineer (Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: jalisco555

25 posted on 04/21/2011 12:18:05 PM PDT by dead (I've got my eye out for Mullah Omar.)
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To: jalisco555
The company said net income fell 57.6 percent to $5.4 million,

The entire company's net income is lower than that of a decent major league shortstop.

26 posted on 04/21/2011 12:20:58 PM PDT by dead (I've got my eye out for Mullah Omar.)
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To: jalisco555

Ahhhh...the New York Times. Their new motto is WE SHOT OUR OWN FEET OFF AND NOW WE’RE GOING TO SHOOT OUR HANDS!


27 posted on 04/21/2011 2:04:33 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: jalisco555
Wow, routinely offend half your potential customer base and the revenue drops. Who’d have believed it possible?

LOL - good one Jalisco - but it's worse. They also flip off lower class dems union guys, inner city blacks, and cross-the-border 'immigrants'. That leaves the New York Times with liberal elites - a group with much power and few members...

To sweeten the pot for advertisers, liberal elites are fashion conscience about consuming too much... besides how many car companies sell the Prius?

28 posted on 04/21/2011 3:14:55 PM PDT by GOPJ (Understanding the Koran: http://www.citizenwarrior.com/2009/05/terrifying-brilliance-of-islam.html)
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To: jalisco555

Layoff time again!


29 posted on 04/21/2011 5:21:28 PM PDT by jimbo123
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To: abb
Photobucket

For the record, I did not put the sticker on there, but I would like to thank the person that did.

30 posted on 04/21/2011 8:27:23 PM PDT by Clay Moore (The heart of the wise inclines to the right, but the heart of a fool to the left. Ecclesiastes 10:2)
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To: jalisco555; abb

‘At the Regional Media Group, which includes local newspapers from Florida to California, the decline was 9.7 percent.’

My paper is one of the Times’s Florida vassals, and conservative Floridians are getting more resistant to he Times’ leftist spin. If they continue to lose money here. perhaps they will sell our papers to local more conservative owners.


31 posted on 04/21/2011 10:16:25 PM PDT by Lucius Cornelius Sulla (Liberty and Union, Now and Forever, One and Inseparable -- Daniel Webster)
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To: ken5050

I missed that. Are they completely out from under Slim, now? Who has the loan now?


32 posted on 04/24/2011 7:02:03 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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