New York Times Co. Cuts '04 Profit Target
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New York Times Co.  on Monday forecast third-quarter and full-year earnings below Wall Street's average estimates on lower-than-expected revenue so far in September, sending its shares to two-year lows.
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NEW YORK -- The New York Times Co. , the third-largest US newspaper publisher, said 2004 profit will fall below its forecast, and third-quarter earnings will be less than analysts' estimates. The shares fell to their lowest level in more than two years.
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The New York Times Co. NYT.N said on   Thursday it forecast lower third-quarter earnings than during   the same quarter last year because of a "challenging" print   advertising market.
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The public editor for The New York Times slammed his employer Sunday in a column, saying the newspaper violated its policies by cutting MoveOn.org a deal on a controversial ad criticizing the top U.S. military commander in Iraq.
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Advanced Marketing Services Inc., which provides customized wholesaling and distribution services for the publishing industry, on Monday slashed earnings expectations for fiscal 2004.
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With ad revenues plummeting, New York Times looks to its online publication for salvation.
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The New York Times Co.  plans  to make the size of its flagship newspaper narrower and close a  printing plant, resulting in the loss of 1,050 jobs, the  company said in a story posted on its Web site late on Monday.
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The New York Times Co. said on Tuesday  that it expects its Internet-related businesses to generate  about $270 million in revenue in 2006.
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The New York Times said on Sunday it  made a mistake in charging a discounted rate for printing a  political ad that attacked the top U.S. general in Iraq,  angering Republicans and drawing charges the newspaper is  politicalky biased.
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The Wall Street Journal, whose parent Dow Jones & Co. is the target of a $5 billion takeover offer by News Corp., is set to shake up its newsroom by reassigning and replacing several top editors, the New York Times reported on its Web site.
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The New York Times Co. said on Tuesday  that its Internet revenue could grow 30 percent in 2007, and  that it is trying to cut costs and is continuing to rebalance  its portfolio of properties to deal with a tough media climate.
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New York Times Co. NYT.N on Monday  forecast third-quarter and full-year earnings below Wall  Street's average estimates on lower-than-expected revenue so  far in September, sending its shares to two-year lows.
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The New York Times Co. is considering  subscription fees to the online version of its flagship  newspaper, which now is available for free, but it has no  immediate plans to do so, the company said on Friday.
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_ The New York Times Co. plans to sell its building on West 43rd Street in Manhattan to a partnership led by Tishman Speyer Properties, the companies announced Monday.
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New York Times Co. will eliminate a charge to view columnists and access archives on the Web site of its flagship newspaper.
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The New York Times Co. said on Tuesday that it expects its Internet-related businesses to generate about $270 million in revenue in 2006.
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The New York Times Company said that it had agreed to buy 49 percent of Metro Boston, a free newspaper aimed primarily at commuters in their 20's and 30's.