NY Times Profit And Revenue Decline

In another sign that traditional publishers, particularly newspapers, are feeling the pinch of both the economic downturn and the shift in media preferences, the NY Times – a bell weather of newspapers – posted dismal revenue and earnings with total advertising revenue declining by 27% during Q1 compared with Q1 last year. Declines were worst in classified advertising (off 45%), but affected all aspects of the business including Internet (off 6.1%)