More gloom in newspaper world as the New York Times lost $74.5 million in the first quarter. Second year in a row for a 1st quarter loss, but last year NYT dropped only $335K.
Print advertising for the Old Grey Lady was off 28.4%.
The loss numbers don’t add up. Did the story mean that the $74.5 loss was after some big infusions of cash?
Imagine how bad it could have been had Times Corp not raised $225 million on selling it’s Manhattan building and leasing back the space plus a $250 million loan from Carlos Slim of Mexico.
Real shame -- I'm really enjoying the news app on my iPhone. Perfect example of if you get it in the right format, people will use it.
No comments:
Post a Comment