NY Times Co. 3Q Profit Plunges 39%
NY Times Co. 3Q Profit Plunges 39%, Belo Also Down
By E&P Staff and The Associated Press
Published: October 19, 2006 10:15 AM ET
CHICAGO The New York Times Co. reported Thursday that its third-quarter 2006 profit from continuing operations plunged 39.2% on costs related to its job cuts and a loss on its sale of its 50% stake in the Discovery Times Channel.
Meanwhile, Belo, publisher of The Dallas Morning News, said net income for the quarter fell to $19.2 million, or 19 cents per share, compared to $22.1 million, or 20 cents per share, during the same period last year.
At the New York Times Co., 3Q operating profit was down 48% from the same period in 2005 to $20.5 million on total revenues that slipped 2.4% to $739.6 million.
Reflecting a continuing tough advertising environment, total ad revenue was off 4.2% to 465,476.
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