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New York Times Co. Reports Q4 Profit Loss

Jan 24, 2006  •  Post A Comment

The New York Times Co. reported a 41 percent decline in fourth-quarter profit to $64.8 million, as the media company was hurt by higher newspaper operating costs and expenses associated with job cuts during the period.

Revenue was up 3 percent to $931 million.

For the year, the company’s profit fell 11 percent to $259.8 million, while revenue rose 2 percent to $3.4 billion.

At the company’s broadcasting division, which created its first duopoly in Oklahoma City during the quarter, revenue fell 10 percent due to the absence of political advertising spending in the 2005 fourth quarter.