Skip to comments.New York Times Swings To 2Q Loss On Charge, Revenue Decline
Posted on 07/21/2011 8:46:53 AM PDT by george76
New York Times Co. swung to a second-quarter loss on a write-down tied to its news media group, along with the continuing decline of advertising revenue and higher promotion costs related to the launch of digital subscription packages.
New York Times, which also owns the Boston Globe, has signaled that its cost-cutting efforts, which have allowed it to remain mostly profitable despite its top-line declines, may be winding down. Most publishers have seen slower advertising-revenue declines, but the newspaper industry continues to battle circulation losses as readers migrate to the Internet.
Revenue dropped 2.2% to $576.7 million, reflecting a 4% decline in advertising revenue...
Operating margin swung to negative 19.8% from 10.3%.
Total operating costs fell 0.7% and newsprint expense increased 5.8%.
On Monday, Gannett Co. (GCI) said its second-quarter earnings fell 22% as revenue slid 2.2%,
(Excerpt) Read more at foxbusiness.com ...
Not happenin’ soon enough.
I want to see NYT slugs out on the street.
On drugs (oh, forgot, most of ‘em probably always were on drugs).
May the flies of a thousand camels come to rest in their beer.
May an unclean yack back into their linen closet.
May a crazed drug user (perhaps even the president) streak their daughter’s debutante party.
Who is even still advertising with them? Why ?
and are there that many leftest still buying Pinches BS
Well going down slow is fun to watch, Think employees have to buy the stock?
Aw shucks. Bummer. Drat. Darn even.
Nice! Liberals who spend all day writing up how great Obama is doing will be out looking for a job in his economy!
How’s that PayWall working out for you?
I guess not ALL crime pays!!!
“..higher promotion costs related to the launch of digital subscription packages.”
Only an idiot would pay for an online subscription when everyone else is giving it away. Die already!
(And they’ll go down as ideologues, clinging to their cultural and economic Marxism.)
“May a crazed drug user (perhaps even the president) streak their daughters debutante party.”
And if they show their butt while streaking, they become sex offenders.
Talk about a double-whammy!
Can’t wait for the sheriff to padlock the door.
Good news bump!!
It’s in the roundup on the thread I posted this morning.
I didn’t get pinged..bummer
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A lackluster 2011 for the Globes finances
Tribune trims 20 workers from staff
By: Lynne Marek July 21, 2011
(Crain’s) Chicago Tribune, the citys biggest newspaper, cut employees today, mostly in its newsroom, according to sources familiar with the job reduction.
The sources said that about 20 workers were let go. A spokesman for the company didnt immediately respond to a request for comment.
Some longtime Tribune reporters and editors were among them, including news administration editor Randy Weissman, editorial page writer Pat Widder and health care reporter Bruce Japsen, according to sources.
The newspapers parent, Chicago-based Tribune Co., is continuing to pare costs as it seeks to exit Chapter 11 bankruptcy proceedings later this year.