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The New York Times, Gannett and News Corp. each reported quarterly earnings this week, shedding new light onto a dismal start to 2020. Like so many other industries, media companies have had to institute cost-cuts, layoffs and furloughs due to a decrease in advertising and near-shuttering of their events businesses.
This week’s quarterly earnings calls give an additional glimpse at how the business of media has borne the brunt of the pandemic—as well as the glimmers of hope. Here are five takeaways:
Digital subscriptions are up despite media publications putting journalism in front of paywalls
The New York Times, Gannett and News Corp.