The New York Times Company Posts Net Loss of $119 Million in 2Q
The New York Times Company posted its 2Q results this morning, and while most of the report was bad, there was a small portion of good news. First the bad: The paper posted a net loss of $119.7 million, because of something called a noncash write-down. Here’s the explanation of that by the Times:
The net loss of $119.7 million was due in part to a noncash write-down of $161.3 million to reflect the declining value of its Regional Media Group, which includes newspapers like The Sarasota Herald-Tribune, The Tuscaloosa News and The Press Democrat of Santa Rosa, Calif.
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