NY Times Posts $12.5 Million Loss

NYtimes buildingThe third quarter was rough for The New York Times, as it posted a net loss of $12.5 million. Total revenue increased barely — by 0.8 percent — from $361.7 million to $364.7 million. Circulation revenues also ticked slightly upward at an increase of 1.3 percent.

The main reason for the decline was all the money the Times had tied up in buyout packages. Print advertising also keeps declining, dropping five percent in the third quarter.

The one bright spot for the Times continues to be its digital subscriptions. The paper added 44,000 during the third quarter, its best quarterly increase in two years. The Times now boasts 875,000 digital-only subscribers.