Posted by
Defend America on Tuesday, August 26, 2008 11:07:28 PM
PINCH: NY TIMES July revenue down 10.1%; ad revenue down 16.2%...
NEW YORK (AP) -- New York Times Co. said Tuesday that its July revenue
from continuing operations fell 10.1 percent this year as advertising
revenue slipped 16.2 percent.
Overall revenue dropped to $235.9 million in July from $262.3 million in July 2007, the publisher said.
A
continuing drop in classified ads and cutbacks in spending by movie
studios, car companies and hotels were offset only partially by a rise
in revenue from media, financial services, advocacy and health care ads
for a net drop of 16.2 percent.
The company's flagship The New
York Times paper had 15.3 percent lower ad revenue. At its New England
media group, which includes The Boston Globe, July ad revenue dropped
24.5 percent.