The Securities and Exchange Commission has asked several US newspapers to disclose information about its circulation practices, following investigations at Hollinger International which showed figures at the publisher’s Chicago Sun-Times title had been inflated over several years.
Yesterday the New York Times defended the integrity of its circulation figures after the SEC approached the group, as well as other leading newspaper publishers including, Dow Jones, Gannett and the Washing Post Company, said today’s
Financial Times.
The Audit Bureau of Circulations (ABC), the industry’s monitoring body, has also been instructed by the SEC, following claims of mis-stated or inflated circulation figures at some publishers.
The New York Times argued it was able to show wholesale distribution records to the ABC while many other newspapers could not.
A senior executive said: “Owning and controlling distribution certainly helps [us] but having a direct billing relationship with the consumer means the nature and quality of the audit is different to other newspapers.
The New York Times, which also publishes the Boston Global and 16 other newspapers said it would submit new figures to the ABC showing circulation gains for bot its flagship daily and Sunday title.
Yesterday the New York Times reported a that opearting profit was 9.1% year-on-year to $84.3 million, while total revenues for the group rose 1.9% to $773.8 million compared with $759.3 million in the third quarter of 2003. Advertising revenues (64 % of total revenues) grew 3.7%, and circulation revenues (28% of total revenues) were on a par with the third quarter last year.
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