"Yesterday, the Times Co. reported second-quarter net income of $39.1 million"
I'll bet the rank-and-file at the Globe loved reading that.
YOUSE gots TOOK by the Times, guys!!!!
"Times Co. expects sale of Sox stake; In earnings call, CEO says Globe is on stronger footing" by Casey Ross, Globe Staff | July 24, 2009
Times Co. chief executive Janet Robinson said the union concessions, along with the consolidation of printing operations and other cuts, would bring an improvement in annual results for the Globe, which earlier was forecast to lose $85 million this year. Advertising at the Globe has continued to decline, but that has been offset by significant cost cutting....
Yesterday, the Times Co. reported second-quarter net income of $39.1 million, an 85 percent increase over the same period last year. The results benefited particularly from a $37.7 million reduction in estimated income taxes for the first half of the year. The results were also a vast improvement over the first quarter of 2009, when the company reported a $74.5 million loss.
Still, the Times Co. continues to suffer from underlying weakness in advertising revenues. Overall, revenues from advertising dropped more than 30 percent during the last three months, with those declines shared equally among the Globe, The New York Times, and its group of regional publications.
They think it is the ad dollars. It's not; it is the LYING AGENDA-PUSHING, Globe!
The dismal news on that front was mitigated by a 1.5 percent increase, to $227 million, in revenues from the sale of newspapers, driven by higher prices at newsstands and home delivery for the Globe, the Times, and some of the regional newspapers.
Yeah, they MADE PROFITS off the PRICE HIKE! Un-fucking-real!
At the Globe alone, revenue from sales increased 7.5 percent in the second quarter after the newsstand price increased to $1 from 75 cents during the week, and to $3.50 from $2.50 on Sunday.
It's a $1.50 and $4 out here.
Importantly, Robinson said the company experienced fewer cancellations from readers after the price increase than it had been expecting.
Guilty. I'm still buying it.
“We believe this shows the value our newspapers provide day in and day out to our readers,’’ she said.
Pfft! The SELF-DELUSION is NOT HELPING YOU!
The Times Co. continues to cut costs and sell off businesses to help pay down debt, now at $1 billion.
Couldn't happen to a nicer group of s***-tossers!
The company raised $45 million this month from the sale of WQXR-FM, a classical music station in New York City, and expects to sell its 17.75 percent share in New England Sports Ventures, which owns the Boston Red Sox and 80 percent of the sports cable network.
Yeah, THAT is why the GLOBAL-WARMING FART-MISTERS are NEVER at the ANTIWAR RALLIES or protesting NASCAR!!! We can SMELL the AGENDA-PUSHING STENCH, Globe!
Robinson made a point of not addressing the prospect of a Globe sale....
That's because THERE AIN'T ONE!!!
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