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The New York Times Company Lost $39.7 Million In 2011 (Dinosaur Media DeathWatch™)
Business Insider ^ | February 2, 2012 | Staff

Posted on 02/02/2012 8:34:01 AM PST by abb

The New York Times Company reported its Q4 earnings today, and they lost $39.7 million in 2011, or 27 cents a share, after making $107.7 million in 2010.

Q4 profit is down 12.2% y/y thanks to the continuing decline of print advertising and a 67.4% decline in the About Group's operating profit, which also saw a 25.7% decrease in quarterly ad revenues y/y.

The NYT also missed analysts' estimates — quarterly net income of 39 cents a share was lower than expectations of 42 cents a share. The fourth quarter income also reflects a $4.5 million payout to departed CEO Janet Robinson, and $7.9 million in severance costs, up from $4.7 in Q4 2010.

snip

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: advertising; dbm; democratmedia; enemedia; liberalmedia; newspapers; nytimes; obamedia
Thursday good news.
1 posted on 02/02/2012 8:34:11 AM PST by abb
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To: abb

Not good enough...the libs will keep it afloat no matter how much it loses.


2 posted on 02/02/2012 8:35:09 AM PST by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: abb

3 posted on 02/02/2012 8:36:00 AM PST by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: abb
advertise on FR....It costs nothing if the boss approves.

Click to Donate to Newt Gingrich

4 posted on 02/02/2012 8:36:34 AM PST by hoosiermama (Stand with God: Newt, and Sarah will be right next to you.)
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To: abb

"Did I do that?"

5 posted on 02/02/2012 8:36:58 AM PST by Fido969
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; Bahbah; bert; bilhosty; Caipirabob; carmenbmw; ...

ping


6 posted on 02/02/2012 8:37:44 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb



7 posted on 02/02/2012 8:41:43 AM PST by jimbo123
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To: abb

To big to fail?


8 posted on 02/02/2012 8:42:12 AM PST by woodenickel
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To: abb

Now you know why they want to control the Internet.

Most people can spot their B.S. a mile away.


9 posted on 02/02/2012 8:43:52 AM PST by Sprite518
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To: Fido969

What a great day! Die Commie NYT, Die!


10 posted on 02/02/2012 8:51:03 AM PST by OldCorps
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To: OldCorps

-—What a great day! Die Commie NYT, Die!-—

Yeah!!!


11 posted on 02/02/2012 8:55:13 AM PST by St_Thomas_Aquinas
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To: abb

well..
This proves that if you just look hard enough, you can find some good news in the Obama economy!

I’m sure the Gay Mafia running the Times is very distressed, right?


12 posted on 02/02/2012 8:56:03 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: evad

“Not good enough...the libs will keep it afloat no matter how much it loses.”

It’s not only that. Frontpage had an article on the single company propping up the NYT: Kaplan Learning who uses govt funds to siphon money and keep it operating. I mean, you had NYT editors washing cars to actually help their salaries..


13 posted on 02/02/2012 9:00:41 AM PST by max americana (Buttcrack Obama is an idiot)
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To: abb

http://www.nytimes.com/2012/02/03/business/media/quarterly-profit-falls-12-2-at-times-co.html?partner=yahoofinance
Quarterly Profit Falls 12.2% at Times Co.

http://adage.com/article/digitalnext/time-video-step-tv-s-shadow/232455/
Time For Video to Step Out From TV’s Shadow

http://www.broadcastingcable.com/article/480007-Viacom_Earnings_Hurt_By_Nickelodeon_Issues.php
Viacom Earnings Hurt By Nickelodeon Issues
Lower Ad revenues, plus a Rock Band charge, cut net

http://www.broadcastingcable.com/article/479999-Genachowski_Praises_Comcast_s_Stepped_Up_Drive_on_Low_Cost_Broadband.php
Genachowski Praises Comcast’s Stepped-Up Drive on Low-Cost Broadband

http://www.nytimes.com/2012/02/02/business/media/networks-resort-to-trickery-in-an-attempt-to-lift-ratings.html?_r=2&ref=media
In Networks’ Race for Ratings, Chicanery Is on the Schedule

http://www.bloomberg.com/news/2012-02-02/viacom-s-profit-drops-65-as-advertising-falls.html
Viacom’s Profit Drops 65% as Advertising Falls

http://adage.com/article/mediaworks/netflix-kids-streaming-part-nickelodeon-s-ratings-drop/232475/
Is Netflix Kids’ Streaming Part of Nickelodeon’s Ratings Drop?

http://www.mmm-online.com/pg-signals-plans-to-cut-ad-costs-by-shifting-to-digital-media/article/225878/
P&G signals plans to cut ad costs by shifting to digital media

http://www.thewrap.com/media/column-post/la-times-revenue-chief-departs-exclusive-34992
L.A. Times Revenue Officer Departs (Exclusive)

http://www.chron.com/business/article/Hearst-Corporation-announces-new-leadership-2918193.php
Hearst Corporation announces new leadership appointments at the Houston Chronicle

http://www.niemanlab.org/2012/02/the-newsonomics-of-the-next-new-york-times-ceo/
The newsonomics of the next New York Times CEO

http://www.niemanlab.org/2012/02/the-washington-post-tries-a-new-weapon-to-fight-the-trolls-humans/
The newspaper is encouraging reporters to jump into the comment threads of their own stories, not hide from them.


14 posted on 02/02/2012 9:01:15 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Even these numbers are probably cooked. The only outsider who gets to look at the real numbers would be Carlos Slim, their sugar daddy from south of the border. And being as how he is a businessman, it it hard to see what interest he would have in the NY Slimes, other than the liquidation value of its plant and real estate. Re that point, when the Slimes goes under and Carlos is selling off their assets, does he get a stepped up basis? The NY Slimes’ death spasms and convulsions are pegging the schadenfreude meters of Real Americans all across the fruited plains.


15 posted on 02/02/2012 9:02:03 AM PST by Bedford Forrest (Roger, Contact, Judy, Out. Fox One. Splash one.<I>)
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To: abb

They’re so good even their DIGITAL product is shrinking.


16 posted on 02/02/2012 9:13:14 AM PST by NativeNewYorker (Freepin' Jew Boy)
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To: abb

I don’t follow the business of media and entertainment at all - and you can call me a cynic or conspiracy-theorist — but I think that it just doesn’t matter how much money NY Times makes or loses. It will be around forever.

Its too important a part of the establishment.


17 posted on 02/02/2012 9:14:32 AM PST by PGR88
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To: PGR88
It will be around forever. Its too important a part of the establishment.

Or at least the people who write and publish it, in some form. Which is why it is important that we conservatives learn the business and build our own networks and news reporting agencies.

18 posted on 02/02/2012 9:17:49 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: PGR88

>>>I don’t follow the business of media and entertainment at all - and you can call me a cynic or conspiracy-theorist — but I think that it just doesn’t matter how much money NY Times makes or loses. It will be around forever.<<<

I’m old enough to recall my mother saying the same thing about the Herald-Tribune. You’ll probably have to Google it to find out when it closed down.


19 posted on 02/02/2012 9:21:12 AM PST by redpoll
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To: abb

What would be great is if a Conservative bought the rag, fired all the Leftist journos save one as the token Leftist, and those taking their places would be Conservative ones.


20 posted on 02/02/2012 9:31:04 AM PST by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: abb

In case you missed it, there are other problems for the First Family at Happy Hollow. Among other things:

Ochs Sulzberger family members pressured NY Times management to restore dividends

Less than three years after the New York Times Co. was forced to slash its dividend to save cash, members of the paper’s founding family pressured management to restore the rich payout.

Members of the Ochs Sulzberger clan are reportedly unhappy that the once-mighty and now struggling company has not been able to dole out the dividend, which was a major source of income for the family whose trust controls the company through a dual-class share structure.

Some family members had put pressure on Chairman Arthur “Pinch” Sulzberger, Jr. and recently ousted CEO Janet Robinson to reinstate the dividend, according to a new report.

Sulzberger Family Place Sells for $10.25 million on Central Park West

Seems like granny passed away last February and that triggered a boatload of estate taxes. Thus, the need for even more filthy lucre.

Not to worry, however. At least the money-losing side of the business, their Internet site, is growing. Maybe they can eventually make things up in volume eventually, providing they don't go broke first.

21 posted on 02/02/2012 9:31:54 AM PST by Zakeet (If Obama had half a brain, his butt would be lopsided)
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To: abb

Bravely climbing to the top of the highest mast to wave the liberal flag from a sinking ship. Bon Voyage!


22 posted on 02/02/2012 9:38:07 AM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: abb

The Dinosaur media has the worst possible business model of all time. Basically it is the Jim Jones cult model of group control. The Chicago Trib spends its time looking for racists who can only be white, the same as its declining readership.


23 posted on 02/02/2012 9:48:39 AM PST by junta ("Peace is a racket", testimony from crime boss Barrack Hussein Obama.)
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To: Jack Hydrazine

What would be great if a Mexican brought it and turned it into a Spanish language luchadores fanzine.


24 posted on 02/02/2012 9:49:57 AM PST by Tribune7 (GAS WAS $1.85 per gallon on the day Obama was Inaugurated! - - freeper Gaffer)
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To: abb
.

.

.

.

25 posted on 02/02/2012 10:10:33 AM PST by Jeff Chandler (Quando Omni Flunkus Moritati)
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To: abb

Still yet another reason to kick Zero out of office. Get him out before he thinks of a way to spend tax dollars to prop up the media.


26 posted on 02/02/2012 10:22:01 AM PST by BAW (Ruck Fomney.)
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To: abb

I don’t understand how these large companies “lose” money yet keep on going. If I have $100 at the beginning of the year and I’m $10 in the hole at the end of they year, how do I keep my doors open? These big builders and car makers have been posting losses for years.


27 posted on 02/02/2012 11:34:47 AM PST by Terry Mross ( We need a SECOND party.)
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To: abb

“Ha Ha!”
Thank you Nelson.


28 posted on 02/02/2012 12:40:01 PM PST by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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To: Terry Mross

In the case of The NY Times, they’ve been liquidating assets to keep the doors open. Selling TV stations, other newspapers, etc.

In 1997, the book value was $1.73 billion. Today, it is $593 million.

“Book value” is the value at which an asset is carried on a balance sheet. It is the total value of the company’s assets that shareholders would theoretically receive if a company were liquidated.


29 posted on 02/02/2012 1:10:24 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Zakeet

http://www.poynter.org/latest-news/top-stories/160158/media-general-to-face-debt-crunch-within-weeks/

Media General to face debt crunch within weeks

Rick Edmonds by Rick Edmonds Published Jan. 26, 2012 5:01 pm Updated Jan. 26, 2012 5:40 pm

On Thursday, Media General — publisher of the Richmond Times-Dispatch and the Tampa Tribune — reported a net loss for the fourth quarter of 2011 and for the full year.

That was not the really bad news, however.

Management announced that it “is uncomfortable with its ability to remain in compliance” with the terms of its loans, which are tightening each quarter of 2012.

In a conference call with analysts, CFO James Woodward said the company is working with advisers to get out of trouble. It hopes to have a proposal within two weeks to renegotiate the terms of the loans and/or extend their maturity date (currently March 2013).

CEO and President Marshall Morton added that the company would consider possible asset sales — of a newspaper property or a local TV station — as part of a longer term resolution of the debt issue.


30 posted on 02/02/2012 3:45:07 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
CEO and President Marshall Morton added that the company would consider possible asset sales — of a newspaper property or a local TV station — as part of a longer term resolution of the debt issue.

They've been spinning off newspapers and TV stations for years. They sacked 165 employees a couple of months ago. They're flagship properties are losing money even though they are in the middle of an election. Now they are working under a deadline to renegotiate their debt within the next two weeks.

Doesn't sound like they're very much longer for this world.

31 posted on 02/02/2012 4:38:42 PM PST by Zakeet (If Obama had half a brain, his butt would be lopsided)
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To: evad
I dunno about that. Carlos Slim seems like the kind of guy who expects to be paid on time.
32 posted on 02/02/2012 6:01:21 PM PST by hinckley buzzard
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