October 23, 2008
Revenues Down For Globe, Telegram
The New York Times Co., owner of the Boston Globe and the Worcester Telegram & Gazette, saw its third-quarter profits drop to $6.5 million, down 51.4 percent from last year.
The company's revenue fell 8.9 percent, to $687 million.
Revenues for the Globe and Telegram, which make up the company's New England Media Group, declined 12.3 percent to $126 million, with advertising revenue dropping 19.4 percent.
As a whole, the company had a loss from continuing operations of $2.1 million, offset by $8.6 million in income from discontinued operations, thanks to the sale of its broadcast media group last year.
WBJ Web Partners
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