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Non-Tech : NYT: New York Times Co.

NYT 56.09

-2.4%

Oct 29 3:59 PM EDT

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From: joseffy	7/23/2008 12:38:01 PM
	of 13

Profit Plunge at the New York Times By Elizabeth MacDonald July 23, 2008 emac.blogs.foxbusiness.com The New York Times (NYT) fell as low as $12.38 this morning after its second quarter earnings missed estimates. Profits plunged 82% to $21 mn versus the $118 mn posted in the same period a year ago, a period that was helped along by the one-time sale of an asset. The share plunge is the lowest since July 1995. Print ads dollars at the Times continue to shrivel, sending operating income in a nosedive, as ad dollars continued their inexorable march toward the Internet. . . . The Times is hoping against hope that its mix of assets, including The Boston Globe, the International Herald Tribune, About.com, regional newspapers and a classical music radio station in New York can pull it out of its corkscrew dive south. Stay tuned.

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