N.Y. Times Q2 Revenue Falls
July 25, 2007 at 7:03 AM (PT)
The NEW YORK TIMES CO.'s second-quarter revenues fell 3.7% to $786.9 million, but a one-time gain from the sale of the company's TV stations to LOCAL TV LLC, a company headed by RANDY MICHAELS and BOBBY LAWRENCE, helped net income to double from $59.6 million to $118.4 million (41 to 82 cents/share). Excluding special items, earnings fell from 37 to 34 cents/share. For the month of JUNE, ad revenues from continuing operations fell 5.5% and total revenues from continuing operations fell 3.6%.
The company owns one radio property, Classical WQXR/NEW YORK.