Loss-making New York Times hit by ad slump
Posted
by
Paul McNally
on 18 April 2008
at 08:29
Tags: Advertising, Journalism
The New York Times posted a $335,000 loss in the first three months of this year, one of its worst-performing quarters in history, according to the International Herald Tribune.
The main reason was a 10.6 per cent fall in advertising revenue - worse than the US sector-wide fall of around eight per cent.
“While this is a challenging time for the media industry, we are diligently manging our business for the long term,” New York Times Company chief executive Janet Robison says.
Tags: Advertising, Journalism
