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Advertising revenue for the New York Times Company’s news operations fell 5.6 percent in the fourth quarter and 4.7 percent for all of 2007.
For the New York Times Media Group, which is made up of The New York Times, The International Herald Tribune and their websites, ad revenue fell 2.7 percent for the quarter and 2.2 percent for the full year, according to The New York Times. Still, the company fared better than many of its peers in the troubled newspaper industry.
The New York Times Company as a whole reported a fourth-quarter profit of $53 million.
Newspaper companies across the country have seen an industry wide drop in ad revenue of about 7 percent in 2007. The year marks one of the worst since World War II.
The E.W. Scripps Company remained highly profitable thanks to its heavy investment in broadcast and cable television. Overall revenue dipped less than 1 percent, but newspaper ad revenue dropped 12 percent. Particular declines were in California and Florida, which have been hit hard by the real estate downturn.
Advertising revenue for Media General, which owns newspapers as well as TV stations primarily in the Southeast, saw ad revenue fall 11 percent in the fourth quarter. Classified ad revenue dropped 22 percent.
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