January 31, 2008
Telegram, Globe Lead Times Co. Down In 4Q
By Matthew L. Brown
The New York Times Co. , parent of the Worcester Telegram & Gazette and the Boston Globe, reported fourth quarter net income of $53 million compared to a $648 million loss for the same quarter a year ago.
However, company revenue fell 7.1 percent to $865.8 million during the quarter. The company's New England Media Group saw its advertising revenue slip 15.6 percent and its circulation revenue decline 7 percent during the quarter.
Company-wide advertising revenue decreased 9.1 percent and circulation revenue decreased 4 percent during the quarter.
The company blamed a long, 14-week quarter for the revenue declines.
However, company revenue fell 7.1 percent to $865.8 million during the quarter. The company's New England Media Group saw its advertising revenue slip 15.6 percent and its circulation revenue decline 7 percent during the quarter.
Company-wide advertising revenue decreased 9.1 percent and circulation revenue decreased 4 percent during the quarter.
The company blamed a long, 14-week quarter for the revenue declines.
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