The New York Times Co. today reported a 63.2 plunge in Q4 net income to $65.7M on a 5.2 percent dip in revenues to $443.9M.
Ad revenues slipped 6.3 percent to $212.1M while circulation sales fell 3.9 percent to $207.7M.
Net profit for the full-year plummeted 52.3 percent, while revenues sunk 1.1 percent to $1.6B.
CEO Mark Thompson said 2013 was a “busy year for the company.” NYTC unloaded the Boston Globe, rebranded the International Herald Tribune and revamped its advertising unit.
He said total revenues would have risen on a year-to-year comparison had it not been for the extra week in 2012.
Growing momentum in the growth of digital subscriptions encourages Thompson as Q4 revenue growth surpassed the two previous quarters. Paid digital-only subscriptions jumped 19 percent to 760K during Q4.
Thompson is stressing new digital ad products and international sales for the current year.
He anticipates first-quarter operating profit to rise in the low to mid-single digit range.
NYTC generated $70M cash and a $74M tax benefit in Q4 via the sale of the New England Media Group, which included the Globe, Worcester Telegram & Gazette, Telegram.com and a 49 percent state in Metro Boston.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.