New York Times' sales fall though subscriptions rise

The results represent Mark Thompson’s first full quarter as the company’s chief executive officer, following his arrival from the BBC last November.

25th April, 2013

The New York Times, the newspaper publisher betting its future on a shift toward digital subscriptions, posted lower sales last quarter as it failed to attract enough readers to make up for a steeper ad decline.

Advertising dropped more than 11 percent to $191.2 million in the first quarter, while subscription sales rose 6.5 percent to $241.8 million, the company said.

Total revenue fell 2 percent from a year earlier to $465.9 million, missing analysts’ estimates of $470.5 million...

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