N.Y. Times Co. Profit Down on Falling Value of Boston Globe
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The New York Times Co. lost more than $600 million in the last quarter of 2006, largely because of the diminished value of the Boston Globe, which it owns.
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The company said on Friday that its profit fell on price declines for its mainstay computer memory chips, but expressed confidence a rebound in the market would bolster earnings.
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The New York Times Company said yesterday that its profit for the year would fall short of what it had initially forecast, a casualty of higher costs and of advertising revenue that has
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Boston Scientific Corp.  posted lower-than-expected quarterly profit on Friday as sales of its flagship drug-eluting heart stents fell by 32 percent.
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Tribune Co. TRB.N on Thursday said  quarterly profit slumped 32 percent, hurt by costs to reimburse  advertisers after a circulation scandal at two of its  newspapers and an uneven advertising market.
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Torstar Corp., which publishes Canada&#39;s biggest daily newspaper, said third-quarter profit fell 62 percent because of declining sales at its book-publishing unit and costs for employee buyouts at the Toronto Star.
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Washington Post Co.  said on Wednesday its fourth-quarter profit fell 7 percent, dragged down by charges and a profit decline at its newspaper division.
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The New York Times Co.  on  Monday forecast second-quarter earnings of 41 cents to 43 cents  per share, compared to 42 cents a year ago, citing an improved  but still challenging advertising market.
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Newspaper publishers New York Times Co. and EW Scripps Co. on Thursday said the choppy economy could hurt their advertising sales, a day after Dow Jones & Co issued a profit warning due to weak advertising at The Wall Street Journal
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The New York Times Co. has rejected a proposal by a group of Boston businessmen to buy The Boston Globe.
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The company said it was writing down by $814.4 million the value of The Boston Globe and The Worcester Telegram & Gazette.
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Tribune Co , which is going  private in an $8.2 billion deal led by Chicago real estate  tycoon Sam Zell, on Wednesday reported lower quarterly profit  and revenue as advertising sales fell at its newspapers.
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Burlington Northern Santa Fe BNI.N,  the No. 2 U.S. rail group, on Tuesday reported a sharp drop in  net profit after taking a charge related to a change in the way  it estimates asbestos and environmental liabilities, but posted  record quarterly revenue.
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McGraw-Hill Cos , the book and  magazine publisher and owner of Standard & Poor's, on Thursday  said fourth-quarter profit fell 31 percent, as disruptions in  global capital markets dampened demand for credit ratings.
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USA Today publisher Gannett Co. Inc.  said on Wednesday its quarterly revenue fell because of weaker  advertising sales at its local U.S. papers while profit rose  with the sale of some newspaper assets.
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Tribune Co. (TRB.N: Quote, Profile, Research) on Thursday said quarterly profit slumped 32 percent, hurt by costs to reimburse advertisers after a circulation scandal
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Bank of New York Mellon Corp  said on Thursday fourth-quarter profit fell 72 percent, reflecting a one-time gain a year earlier, and a write-down for collateralized debt obligations.