NYT Co. Reports Weak July

By: E&P Staff The New York Times Co. reported today that total revenue dropped 3.5% in July compared to the same month a year ago.

Advertising revenue at the company's News Media Group fell 5%. National grew 2.4% to $63.6 million. Retail decreased 5.3% to $32.9 million. Classified plummeted 14.5% to $44.3 million.

Internet advertising revenue advanced 19.3% in July. Circulation revenue rose 4%.

At the New York Times Media Group, which includes the company's flagship, ad revenue declined 2.9% to $84 million. National advertising was up at the group on gains made in the movie, corporate and hotel categories. Retail and classified advertising declined.

The New England Media Group, which includes The Boston Globe, reported that advertising revenue slipped 4.9% to $32.7 million. National advertising advanced on strength in the telecom, movie, and banking categories. Retail and classified advertising also fell at the group.

At the Regional Media Group, ad revenue plunged 10.9% to $29.3 million on softness in the retail and classified categories.

Revenues at About.com grew 34.7%.

The company reported that TimesSelect currently has 771,400 subscribers with about 60% receiving it as a benefit of home-delivery, 29% receiving it from online-only subscriptions, and 11% receiving it for free as college students and educators.


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