Yesterday morning New York Times Co. announced in a release that it is is performing below expectations in several important financial measures for the third quarter. Total revenue is down more than expected, digital advertising revenue is up less than expected and operating costs are up. CEO Janet Robinson announced the news in person at the Goldman Sachs media conference.
We enjoy the contrast between Keith Kelly’s write up in the New York Post and The Times media writer’s item.
When is a newspaper company not a newspaper company? When it’s the New York Times, according to company President Janet Robinson.
Robinson made the revelation at the Goldman Sachs media conference yesterday, stating, “I wouldn’t define us as a newspaper company because we have worked for many, many years, really re-balancing our company and really looking at ourselves as a multi-platform company.”
said Wednesday that it was anticipating a slight loss in the third quarter, in part because of a decrease in revenue from print advertising and rising costs.