NYT reports a loss for Q2
The New York Times has reported a loss on a $161.3 million write-down of assets at the News Media Group.
The newspaper’s advertising revenues were also down 4%, while circulation revenues remained flat, but digital advertising revenues were strong in Q2 2011 (up 15.5%).
Total News Media Group saw revenues fall 1.3% to $548.9 million. Advertising revenues were down 2.5% in the same period.
Digital advertising revenues were up 2.6%, which partially offset a 6.4% decrease. Circulation revenues for the News Media Group were maintained, as the introduction of digital subscriptions at The New York Times offset the decline in print sales.
About Group revenues were down 17.3% to $27.8 million, mainly due to lower cost-per-click and display advertising.
Read the full PaidContent article here.