The New York Times Co.'s advertising sales revenue from continuing operations fell 10% to $235.9 million from a year earlier. Advertising sales decreased by 16% and circulation revenue reduced by 0.5%.
Revenue at the publisher's News Media Group dropped 18% as classified revenue slumped 30%, on weakness in real estate, employment and motor vehicle ads.
Ad revenue at the New York Times Media Group fell 15%.
At the New England Media Group, ad revenue for the Boston Globe fell 25%. In the company's regional-media group, ad revenue was reduced by 18%.
The results come after Gannett Co. last week reported a 17% slump in July ad revenue and McClatchy Co. posted a 19% decline.
The USA newspaper business is going backwards and substantial job losses are occurring.
Because of the immediate nature of selected online information provided by services like Google Alert, the relevance of newspapers as the breaking source of news, even quickly via their websites, is being challenged.
While there will always be a place for considered comment in print, the news aspect which has been paramount, is being lost to online sources.
Our USA Local Search Business Directory, which is a free service for the 10 million businesses listed, is a direct competitor to newspaper ads, and we continue to succeed.
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