Taking at beating over at the Times:

The New York Times suffered a 16.4 per cent decrease in June advertising revenues and warned on Wednesday that the effects of high oil prices, a slowing economy and the housing crisis were likely to weigh on its prospects for some time.

… That announcement came as the company reported that second-quarter profits fell 82 per cent to $21m, or 15 cents per share, compared with the same period a year ago, when it benefited from a $94m gain from the sale of television stations.