As Gannett and New Media Investment Group saw financial results dragged down by deep print ad revenue declines in third quarter earnings reports today, the New York Times posted a small revenue gain of 0.7 percent.
The Times held print ad losses to 0.9 percent compared to the same quarter in 2014. Digital ad revenues were down 5 percent, but the company had gains in circulation revenue and from other activities including rental income, events and crossword puzzles.
All three companies, thanks to cost controls, were profitable for the period, though modestly so. Gannett recorded a 5.6 percent profit margin, the Times, 2.6 percent and New Media Investment, 2 percent.
The Times continues to post big gains in digital-only subscriptions with 51,000 net new subscribers for the quarter. Read more