IPFS News Link • Media: Print
New York Times loses $40million in 2011
• www.dailymail.co.ukThe New York Times Company
suffered a net loss of almost $40million in 2011, with its fourth
quarter profits falling by 12.2 per cent compared to the same period in
2010.
The company is grappling with sinking advertising revenue and a recent change in the top management after losing CEO Janet Robinson, who received a multimillion dollar severance package.
They said it continued to add subscribers for its digital products in the fourth quarter.
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