The New York Times Company Lost Almost $40 Million in 2011
The New York Times Company has reported its fourth quarter earnings today, and as usual, things are bleak. For the quarter, profit dropped 12 percent and for the year the Times Company posted a net loss of $39.7 million.
The drop can be attributed mainly to a decline in print advertising and About.com’s performance:
Across the company, advertising revenue declined 7.1 percent in the fourth quarter. Print advertising was down 7.8 percent and digital advertising declined 4.9
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