NY Times Posts $12.5 Million Loss
The 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.
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