New York Times Struggles to Replace Print Ads With Digital Sales

By: Edmund Lee | Bloomberg

The New York Times Co.’s advertising department is struggling to replace its once-lucrative print ads with digital sales, as Google Inc. (GOOG) and Facebook Inc. gobble up increasingly large chunks of marketers’ budgets.

Both print and digital advertising at the newspaper decreased about 3 percent in the third quarter, the company said last month, signaling that the total amount fell below $140 million. That’s the lowest level since at least 1998, when the Times began reporting the ad revenue of its individual papers.