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SMALL BUSINESS
The New York Times Co. narrows its 3Q loss
AP ONLINE
posted: 34 DAYS 12 HOURS AGO
NEW YORK (AP) — The New York Times Co. is reporting a loss for the most recent quarter. It was hurt by one-time charges and the continuing ad slump.
The publisher of The New York Times, The Boston Globe, The International Herald-Tribune and 15 other daily newspapers sustained a 27 percent drop in advertising revenue.
The ad slide was comparable to what other major newspaper publishers such as Gannett Co. and McClatchy Co. have reported. But those companies have remained profitable because of job cuts and falling newsprint costs.
The Times Co.'s loss came to $35.6 million, or 25 cents per share. In the same period a year ago it lost $106.3 million, or 74 cents a share.
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