NY Times swings to loss as ad revenue slides

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NEW YORK CITY: The New York Times Co. swung to a loss in the second quarter, hurt by weaker advertising revenues as it seeks to navigate a transition to digital. The Times reported a net loss for shareholders of $211,000, compared with a profit of $16 million in the same period a year ago. Overall revenues edged up 3 percent to $219 million, but ad revenues slid 11.7 percent to $131 million. Print advertising revenue fell 14.1 percent while digital advertising revenue decreased 6.8 percent, underscoring the challenges for the newspaper’s efforts to emphasize its digital edition. Circulation revenues were a bright spot, led by a 15-percent jump in digital-only subscriptions.

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