NY Times Co. narrows second-quarter loss

The New York Times Co., which owns The Boston Globe, Boston.com, and BostonGlobe.com, said Thursday that second-quarter revenue edged up 0.6 percent to $515.2 million as its net loss narrowed to $88.1 million from $119.7 million from the same quarter a year ago.

The loss was driven by a $194.7 million non-cash charge for the About Group, one of the Times Co.’s digital properties.

New England Media Group, the Times Co. division that includes the Globe and Boston.com, had second-quarter revenues of $101.9 million, down 0.5 percent from a year ago. Advertising revenues for the New England division fell 5.3 percent to $49.1 million, the company said.


Many newspapers, including the Times and the Globe, are selling digital subscriptions to customers who prefer to read their news online rather than on printed paper.

The Globe had about 23,000 digital-only subscribers at of the end of the second quarter, up 28 percent from the number reported March 18, the company said. (Daily and Sunday subscribers to the Globe get full access to BostonGlobe.com.)

The Times and the International Herald Tribune had about 509,000 digital subscribers at the end of the second quarter, an increase of 12 percent from the number reported March 18, the company said.

During the second quarter, the company sold its remaining interest in the Fenway Sports Group, which includes the Boston Red Sox. As previously disclosed, the Times Co. said it had sold its remaining share for $63 million. Over 10 years, the company tripled its investment, having originally purchased a 17.5 percent stake in the team for $75 million in 2002. In recent years, it has sold off portions of that share, for a total of $225 million.

Commenting on overall second-quarter earnings, New York Times Co. chairman and chief executive Arthur Sulzberger Jr. said: “Our second-quarter results reflect our ongoing strides in repositioning the Times Co. for an increasingly multiplatform future. The growth in operating profit, excluding depreciation, amortization, severance, and special items, was largely driven by continued strength in circulation revenues, which offset advertising revenue declines and led to overall revenue growth of about 1 percent. Total company circulation revenues rose 8 percent, led by the nearly 11 percent growth at The New York Times Media Group as we continued to expand our digital subscription base and grow our robust consumer revenue stream.’’

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