New York Times says print ad decline moderating
NEW YORK, USA – THE New York Times Co says the US print advertising market has improved “modestly”.
It expects its print advertising revenue to decline 25 per cent in the fourth quarter. That would be slightly better than what other newspaper companies generally have been reporting in the past few quarters.
The New York Times’ chief executive, Janet Robinson, also said yesterday that she expects online advertising revenue to increase by about 10 per cent.
The company said it expects its debt to be about US$800 million at the end of the year — down from UUS$1.1 billion a year ago.
Times Co shares rose 16 cents, 1.8 per cent, to US$9.06 in morning trading yesterday.
