Media Blog

The Incredible Shrinking NYT Reports Flat Earnings

Don Surber was right:

The NYT will trim 1 ½ inches from its width in 2008. The newspaper reports this as 5% reduction in its newshole. But it is an 11% reduction in the printed area of the page. […]
Am I the only one who notices this comes in advance of its quarterly earnings report today? I smell trouble for Pinch and company.

AP: N.Y. Times 2Q Earnings Flat:

The New York Times Co. reported flat earnings for its second quarter Tuesday as a slight gain in revenues was offset by increasing expenses, including newsprint. […]
Despite beating the earnings estimate, the company’s shares fell 36 cents, or 1.6 percent, to $22.82 in morning trading on the New York Stock Exchange.

I’m still not as optimistic as Gaius about the imminent departure of the source of the problem. But this should add to the mounting pressure for him to go.

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