Next thing you know they will be getting a bailout.
Related: The Turbulent Trials of the Times and Tribune
"Times Co. profits fall 48% in period
The New York Times Co., which owns The Boston Globe, said fourth-quarter profits dropped 48 percent to $27.6 million as advertisers cut back during the recession.
I know; they still made a profit, but... :-)
Many newspapers are hurting as readers and ad dollars have been migrating from the print medium to the Web, and the Times reported fourth-quarter revenues for continuing operations were $772 million, down 10.8 percent from the comparable period a year ago.
And because the divisive, agenda-pushing, war-promoting MSM LIES!!!!
In the fourth quarter, even revenues from digital advertising were affected.
"After growing almost 15 percent in the first nine months of last year, digital advertising decreased 3.5 percent in the fourth quarter as online marketers cut back on display ads in response to worsening business conditions," Janet L. Robinson, company president and chief executive, said in a statement.
Total fourth-quarter revenue for the New England Media Group, which includes the Globe, fell 14.8 percent to $131 million from the same period last year, the Times said.
Also yesterday, the Times Co. said it has retained Goldman, Sachs & Co. as its financial adviser to explore the possible sale of the company’s 17.75 percent stake in New England Sports Venture LLC, the holding company which owns the Boston Red Sox.
The Times Co. bought its share for $75 million in 2002. New England Sports Venture also owns Fenway Park, 50 percent of NASCAR team Roush Fenway Racing, and 80 percent of New England Sports Network, the top-rated regional cable sports network in the country.
Ooooooooooohhhhh!
NO WONDER NEWSPAPERS NEVER POINT OUT those contradictions when pushing the GLOBAL-WARMING AGENDA!!!
Which lets you know what a FRAUD that issue is!!!!?
It's unclear how much money the Red Sox stake is worth. Various media reports pegged the share to be worth in the range of $166 million to more than $200 million.
They ain't worth pffffffft to me!!!
