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NY Times Company Profit Slides 52 Percent

The New York Times Company reported that its net income fell 52 percent in the third quarter, but that advertising growth improved in late September, the New York Times writes. The New York Times Media Group, which encompasses NYTimes.com, The New York Times, The International Herald Tribune, and two New York City radio stations, reported a 1.2 percent increase in revenue thanks in part to higher advertising rates. The New England Media Group - including The Boston Globe, The Worcester Telegram and Gazette, and Boston.com - saw a 2.9 percent decline in revenue.

At About.com, which the Times Company acquired in March, advertising revenue increased 67 percent, for a total revenue of $14.2 million.