Marketwatch: "
New York Times profit hurt by 19% ad sale slump." "
Over all, the Times reported a profit of $406,000 for the quarter, or break-even on a per-share basis, down sharply from $9.4 million, or 6 cents a share, a year earlier." That won't even cover Dean Baquet's car service bills.
1 comment:
The Wall Street Journal is suffering the identical ad sale problem. Just two days ago, the Journal announced shrinking news coverage and more layoffs and buyouts. Is that also delightful?
Rupert Murdoch's NewsCorp print division, which encompasses all of his newspapers plus his book publishing house, is now worth less in its entirety than Murdoch's purchase price for the Wall Street Journal, which he bought less than a decade ago. Is that also delightful?
It ain't just the NYT and WSJ, either. When it's happening to everyone, it's not karma.
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