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The New York Times Company is reeling, as bad news for both shareholders and employees accumulates. Cash is being pulled out of production facilities and being funneled, by the hundreds of millions of dollars, into a lavish new billion dollar headquarters building, which will house a news staff that will have five percent less space at its disposal when the paper downsizes its metropolitan edition, as was announced yesterday. The stock market certainly doesn’t seem to think much of it the Times decision to shrink the paper and lay off production workers. The stock closed down 2.2% on trading of...

The Tribune Co., parent of the "Orlando Sentinel," has reported a 62 percent drop in net income to $87.8 million, or 28 cents a share, from $233.4 million, or 73 cents a share, a year earlier. Chicago-based Tribune (NYSE: TRB - News) also pointed to cutbacks from national advertisers and falling circulation ...

NEW YORK (AP) Newspaper publisher New York Times Co. reports earnings for the fourth quarter on Tuesday, Jan. 24. The following is a summary of key developments and analyst opinion related to the period. EXPECTATIONS: New York Times, which also owns the Boston Globe and International Herald Tribune, said in December it expects fourth-quarter earnings of 45 cents to 47 cents per share, sharply below year-ago profit of 75 cents, due to the difficult advertising environment. Excluding costs related to job cuts, the company pegged its earnings at 59 cents to 62 cents per share. Analysts, on average, are expecting...

THE Da Vinci Code is one of the most eagerly anticipated films of the year but its significance to Hollywood may go deeper than mere box office success: Tom Hanks has delighted his studio bosses by accepting a pay cut for his role as the book’s art sleuth hero.

New York Times Co. said fourth-quarter profit will fall to around 45 cents a share because of costs to cut jobs. The declining profit outlook underscores the difficulty The Times is having as advertisers shift to the Internet. In September, the company said it will cut 500 jobs, or about 4 percent of its workforce. "They need a better advertising environment," said Edward Atorino, managing director at New York-based research company Benchmark Co. He rates the shares "hold" and doesn't own them. .........shares fell 37 cents to $26.61 in extended trading after the announcement. Because it can't predict next year's...

The New York Times stock price has plummeted from approximately $49/share to just over $27/share in two years. Last Trade: 27.25 Trade Time: Dec 16 52wk Range: 26.50 - 41.21

Tribune Co.’s November newspaper ad revenue fell 2.4 percent to $262.7 million, the company reported Friday, reflecting a 6 percent national advertising drop that was blamed on weak ad sales at the Los Angeles Times, the Chicago-based company’s largest paper. The company’s total November revenue fell 3.9 percent, to $436.8 million, compared with the previous year. Full-run ad volume at the Times tumbled 9 percent from November of last year. In addition to the Times and Newsday, Tribune owns its namesake paper in Chicago. The Times announced in mid-November that it planned to cut jobs throughout the newspaper, including about...

NEW YORK Chicago Tribune Editor Ann Marie Lipinski explained the newspaper's decision to eliminate 28 editorial positions and other cost-cutting measures today in an e-mail to staff first posted at Jim Romenesko's media blog. As previously reported, the Tribune is closing the New City News Service, "an operation that grew out of a storied Chicago journalism tradition," eliminating the multi-media operation as it currently exists, and taking WomanNews from a stand-alone section to a weekly chapter of Tempo. Additionally, some of the paper's periodic Features special sections will be eliminated, staffing and coverage in the paper's Business features section will...

CNN Anderson Cooper only debuted to 631,000 viewers from 10-12 PM ET on Monday . . . Cooper lost 42% of Larry King's lead in (1,079,000 viewers) and the debut show was down 10% from what he & Aaron were averaging in October...