Ad Revenue at New York Times Co. Plunges in February

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By: E&P Staff

Advertising revenue at The New York Times Co. plummeted 6% in February due to weakness at its flagship and regional papers. Total revenue for the company was down 3.6%.

At the New York Times Media Group, ad revenue fell 7.5% to $93.7 million. National advertising declined on weakness in the technology, movie, and auto categories. Retail advertising was down and classified advertising revenue dropped with weakness in all three categories, real estate, help wanted, and auto.

Advertising revenue at Regional Media Group decreased 8.1% to $28.2 million. Retail and classified revenue were down for the group.

In New England, ad revenue fell 4% to $29.9 million. All major ad categories showed declines.

Circulation revenue at the company was up slightly 0.5% on gains at the New York Times. The New England and Regional groups reported drops in circulation revenue.

Internet ad revenue rose 14.3%. The company said that the timing of recognition of certain advertising revenues in 2006 made for difficult comparisons in the month.

Ad revenue at grew 23.4% on gains in display and cost-per-click advertising.

The company reported that TimesSelect currently has about 639,000 subscribers with about 66% receiving the service as a benefit of home-delivered papers and 34% receiving it from online-only subscriptions.

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