The Evil Company, New York Times ad outlook dim, shares fall (Can’t wait for New York Times to go out of business)
he New York Times Co (NYT.N) warned on Wednesday that print newspaper advertising will continue to decline, sending shares down nearly 9 percent, even as the company slashed costs to reach a higher-than-expected fourth-quarter profit.
The results, like that of other U.S. newspaper publishers, show that revenue declines are easing as the economy improves and advertisers are taking ginger steps back into the market. Even so, they are reducing what they spend on print media anyway, keeping newspapers’ long-term futures uncertain.
U.S. newspapers have been among the media sectors hit hardest by the ad slump, though the Times said advertisers had started to increase their rate of spending across its papers and websites during the quarter.
Read the whole story at Reuters
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