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Fourth Quarter Profits Collapses At The New York Times

COMPANY SAID IT ADDED 276,000 NEW DIGITAL SUBSCRIBERS

New York Times is among the many legacy print media companies feverishly transitioning to digital. But as the transition picks up steam print related advertising revenue continues to slide. Fourth quarter revenue for the Times fell just 1.1% but profits fell almost 30%.  Luckily for New York Times, their digital subscriptions are up and continues to climb. CEO Mark Thompson says to date, The Times has more than 3 million paid subscriptions.
“We continue to experience significant headwinds in print advertising, but the robustness of our consumer business, which we expect will continue, provides a strong counterbalance to these market challenges. We will remain focused on our legacy cost base while continuing to invest in digital growth and innovation.”


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Fourth Quarter Profits Collapses At The New York Times Reviewed by Editor on 2:01 PM Rating: 5
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