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NY Times broadcast unit slumps - Broadcasting & Cable

NY Times broadcast unit slumps

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The New York Times said its broadcast division posted a 12% operating profit decline for the second quarter to $12 million on a 6% revenue drop to $38.7 million.

For the first six months, profit for the unit, which includes eight network affiliated TV stations and two radio stations, was down 13% to $18.2 million, on a 6% revenue drop to $71.1 million.

The company said the declines were "mainly due to lower levels of advertising in most categories, particularly automotive and package goods."
- Steve McClellan

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