October 20, 2010
Telegram, Globe Parent Slips In Q3
By Matthew L. Brown
The New York Times Co.'s New England Media Group, which includes the Worcester Telegram & Gazette and the Boston Globe, pulled in revenue just shy of $103 million during the third quarter, a 6.2 percent decline from the same period a year ago.
Advertising revenue for the New England Group fell 8.8 percent while circulation revenue declined 7.1 percent.
Overall, the company's operating profit was $8.9 million compared to a loss of $23.7 million. Operating costs increased 0.8 percent.
Revenue was $554 million, a 2.7 percent decline from the $569 million the company brought in a year earlier.
The company has reduced its debt by about a third since the beginning of 2009. At the end of the quarter, it was $646 million.
WBJ Web Partners
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