New York Times Earnings Reflect Ongoing Double Whammy
mtippett | April 19, 2008 at 08:24 pmby
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With ad spending overall down just under double digits at 9% for the first quarter, the New York Times' results -- most likely foreshadowing those of Gannett (GCI) (April 21) and McClatchy (MNI) (April 23) -- are the result of the double whammy afflicting newspaper companies. There's a two-headed assault on revenues -- a recession-like pullback in spending compounding the already-in-progress movement of dollars from print to interactive marketing.
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