Times Co. Reports Quarterly Loss After Sale of Globe
Posted: 10/31/2013 | By: Christine Haughney | New York Times
The New York Times Company reported on Thursday a net loss in the third quarter, attributable in large part, the company said, to expenses related to the New England Media Group, which included The Boston Globe. Digital subscription gains helped produce a slight increase in overall revenue.
The Times Company said it had a loss of $24 million, a sharp drop-off from the same period a year earlier, when the company posted a $2.7 million gain. The loss is equal to about 16 cents a share, compared with a gain of 2 cents in 2012.