October 24, 2007
3Q ad spike lifts NYT Co.
By Matthew L. Brown
The New York Times Co., parent of the Worcester Telegram & Gazette and the Boston Globe, reported strong third quarter earnings, but declining advertising and circulation revenues for its New England Media Group.
The New England Media Group saw advertising revenue decline to $91.8 million, a 5.7 percent drop from the same time last year. Circulation revenue for the group fell to $39.7 million, a 1.8 percent decline from the third quarter of 2006.
On the whole, the company reported third quarter net income of $13.4 million on revenue of $754 million, 6.7 percent and 2 percent increases respectively.
The company said the revenue increase was mostly the result of an 11 percent increase in national advertising revenue.
The New England Media Group saw advertising revenue decline to $91.8 million, a 5.7 percent drop from the same time last year. Circulation revenue for the group fell to $39.7 million, a 1.8 percent decline from the third quarter of 2006.
On the whole, the company reported third quarter net income of $13.4 million on revenue of $754 million, 6.7 percent and 2 percent increases respectively.
The company said the revenue increase was mostly the result of an 11 percent increase in national advertising revenue.
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