The New York Times Co. registered a 47 percent decline in Q4 net to $38.4M on flat revenues of $444.7M.
Advertising revenues sank 2.1 percent to $207.6M while circulation sales advanced 1.4 percent to $210.6M.
Print ad sales dipped 9.2 percent; digital revenues rose 19.3 percent to $63.2M or 30.5 percent of overall ad sales.
CEO Mark Thompson called 2014 "an encouraging year with sufficient progress in digital advertising and subscription revenue."
Native ads buoyed the digital revenue performance along with video and mobile sales, according to Thompson.
The NYT finished the year with 910K paid digital subscribers, up 150K from the yearend 2013.
Thompson attributed the decline in profit to strategic investments for digital operations and severance costs connected with a long-term focus on cost reduction.
He promised continued investment for digital and to "bear down on costs to defend our profitability."
Thompson expects Q1 2015 ad revenues to decrease in the mid-single digit range compared to 2014 results.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
USA TODAY brings on Jamie Stockwell as VP of news, effective March 30. Stockwell was most recently deputy managing editor of news for the Washington Post... YouTube expands its likeness detection capabilities to a pilot group of government officials, journalists and political candidates... The AP Fund for Journalism adds 50 news organizations to its local news program, bringing the total number of participating newsrooms to 100. 
Versant Media Group, the NBCUniversal cable TV spin-off, today reported its first financial results as 2025 revenues dipped 5.3 percent to $6.7B and standalone EBITDA dropped 9.1 percent to $2.2B.
