Wednesday, December 24, 2008

Ho Ho Ho! NYT Times Ad Revenues Down 20% From Last Year

I guess the NYT made Santa's naughty list...

The New York Times Co's (NYT.N) November advertising revenue fell 20 percent, the company said on Wednesday, illustrating how the financial crisis is aggravating dizzying revenue declines at U.S. newspapers.

Ad revenue at the publisher's New York Times Media Group, which includes the Times newspaper, fell 21.2 percent from a year earlier because of a drop in real estate and jobs classified advertising.

The company is also on Wall Street's list of companies most likely to go under in 2009. Couldn't happen to a more deserving bunch of folks.

1 comment:

Anonymous said...

Even though I worked at several newspapers many years ago, I have to agree about that one : it had such an unbearably ideological bent that I refused to buy it even when I was living in NYC for more than a brief span.