MediaBuyerPlanner: The New York Times Co. reported today that third-quarter 2006 profit plummeted 39.2 percent.
Operating profit was down 48 percent from the same period last year and total revenues slipped 2.4 percent, writes Editor & Publisher. Total ad revenue was down 4.2 percent.
Meanwhile, newspaper and television station owner Belo Corp. reported that third-quarter profit dropped 13 percent. Total revenue gained 0.8 percent, including a 6.9 percent rise in television group revenue and a 4.2 percent drop in newspaper group revenue.
Related stories:
- NYT Co. CEO: Print Ad Market ‘Very Challenging’
- NY Times Co. to sell 9 TV Stations, Focus on Print, Digital
- NYT Co. Buys Film and TV Database
- Belo Newspaper Revenue Below Expectations
