Big Q309 ad revenue drop, The New York Times Co.
22 Oct 2009
The New York Times Company, in its Q309 earnings release, reported a GAAP-basis operating loss of $25.4 million in Q309 compared with $150.4 million for the third quarter of 2008. On a GAAP basis, the Company’s operating costs declined 22.4 percent in the third quarter of 2009 versus the third quarter of last year. Circulation revenue grew by 6.7 percent.
Not surprisingly, ad