Times Co. June Revenue Down 10%
June revenue at the New York Times Co., parent of the Worcester Telegram & Gazette and the Boston Globe, dropped 10 percent compared to June 2007 with print advertising leading the way down.
Advertising revenue at the company's New England Group, which includes the Globe and Telegram, was down 16.6 percent in June compared to the same month a year ago. The New England group's revenues were down 15.1 percent for the second quarter.
The company reported second quarter revenue of $742 million, a 6 percent decrease from the same period a year ago. The decrease was led by a 24 percent drop in classified advertising and a 9.5 percent slump in retail advertising.
The company's Internet revenue increased by 11.7 percent in June. Internet advertising saw an 18.6 percent increase. The company's Internet business accounted for 13.4 percent of its total revenue compared to 10.8 percent in June 2007.
WBJ Web Partners
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