But, really, is there any other kind of news floating out of Morrissey Boulevard these days? The headlines coming out of the New York Times Company’s first quarter earnings call have focused on the company’s surprising $335,000 loss, but the figures detailed in the call seem to be especially grim for the Globe.
Ad revenue at the Times Co.’s New England media group – the crumbling tenement that houses the Globe and the T&G – tumbled another 16.3%. As usual, that’s a harder fall than the company as a whole, which saw ad revenue decline an unprecedented 10.6%.
The New England unit has been a perennial drag on Times Co. earnings – to the point where the Globe’s parents reportedly couldn’t even unload it if they wanted to, because it wouldn’t be worth the trouble. Multiple rounds of buyouts and the growth of Boston.com haven’t been able to keep up with a precipitous decline in, uh, pretty much everything: financial services, telecommunication, automotive, travel, and retail. All three classifieds sectors – jobs, real estate, and automotive – were down as well.
The question is, is there anybody left over there to fire, buy out or ship off to India? Because, from the outside, that stone looks pretty dry as it is.
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