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New York Times Swings To 2Q Loss On Charge, Revenue Decline
Dow Jones Newswires ^ | Jul 21, 2011 | | Melodie Warner

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 ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: District of Columbia; US: Massachusetts; US: New York
KEYWORDS: bostonglobe; dbm; gannett; media; msm; newspapers; newyorktimes; nyt; oldmedia; times; usatoday

1 posted on 07/21/2011 8:46:55 AM PDT by george76
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To: george76

Not happenin’ soon enough.

I want to see NYT slugs out on the street.

Begging.

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.


2 posted on 07/21/2011 8:50:53 AM PDT by Da Coyote
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To: george76

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?


3 posted on 07/21/2011 8:53:13 AM PDT by reefdiver ("Let His day's be few And another takes His office")
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To: george76; neverdem

Aw shucks. Bummer. Drat. Darn even.


4 posted on 07/21/2011 9:03:31 AM PDT by Robert A. Cook, PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: george76

Nice! Liberals who spend all day writing up how great Obama is doing will be out looking for a job in his economy!


5 posted on 07/21/2011 9:08:28 AM PDT by MNDude (so that's what they meant by Carter's second term)
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To: george76

How’s that PayWall working out for you?


6 posted on 07/21/2011 9:09:07 AM PDT by SanFranDan
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To: george76

I guess not ALL crime pays!!!


7 posted on 07/21/2011 9:09:35 AM PDT by zavvone
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To: george76

8 posted on 07/21/2011 9:11:35 AM PDT by Tex-Con-Man
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To: george76

“..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!


9 posted on 07/21/2011 9:12:04 AM PDT by Huskrrrr
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To: george76

Bwahaha!

(And they’ll go down as ideologues, clinging to their cultural and economic Marxism.)


10 posted on 07/21/2011 9:14:39 AM PDT by 9YearLurker
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To: Da Coyote

“May a crazed drug user (perhaps even the president) streak their daughter’s debutante party.”

And if they show their butt while streaking, they become sex offenders.


11 posted on 07/21/2011 9:15:21 AM PDT by EQAndyBuzz (As long as the MSM covers for Obama, he will be above the law)
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To: MNDude

Talk about a double-whammy!


12 posted on 07/21/2011 9:45:13 AM PDT by jivin gene (Breakin' up is hard to do)
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To: george76

13 posted on 07/21/2011 9:51:15 AM PDT by ckilmer (Phi)
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To: george76

Can’t wait for the sheriff to padlock the door.


14 posted on 07/21/2011 10:59:53 AM PDT by New Jersey Realist (Congress doesn't care a damn about "we the people")
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To: abb
FYI..how'd you miss this? (g)

Good news bump!!

15 posted on 07/21/2011 11:09:01 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: ken5050

It’s in the roundup on the thread I posted this morning.


16 posted on 07/21/2011 11:24:08 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

I didn’t get pinged..bummer


17 posted on 07/21/2011 11:31:22 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: Halfmanhalfamazing

http://www.broadcastingcable.com/article/471353-McDowell_Time_for_FCC_to_Re_Start_Diversity_Committee.php
McDowell: Time for FCC to Re-Start Diversity Committee
Says spectrum reclamation reduction of TV stations implicates diversity rule rethink

http://www.mediabistro.com/tvnewser/ratings-fox-news-tops-during-murdoch-hearings_b77539
Ratings: Fox News Tops During Murdoch Hearings

http://www.dankennedy.net/2011/07/21/a-lackluster-2011-for-the-globes-finances/
A lackluster 2011 for the Globe’s finances


18 posted on 07/21/2011 2:50:32 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: george76

Tribune trims 20 workers from staff
By: Lynne Marek July 21, 2011

(Crain’s) — Chicago Tribune, the city’s 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 didn’t 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 newspaper’s parent, Chicago-based Tribune Co., is continuing to pare costs as it seeks to exit Chapter 11 bankruptcy proceedings later this year.


19 posted on 07/23/2011 6:58:08 AM PDT by KeyLargo
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