New York Times’ disastrous third quarter

From Reuters and AP via Daily Mail:

The New York Times Co reported a 95.7 fall in quarterly profit, hit by restructuring charges related to headcount reductions.

Net profit attributable to the newspaper publisher fell to $406,000, or break-even per share, in the third quarter, from $9.4 million, or 6 cents per share, a year earlier.

Revenue fell to $363.6 million from $367.4 million.

The company, struggling to transition to digital, said online ad revenues grew 21.5 percent and now account for more than 35 percent of its advertising receipts.
More.

Reality check: I know about the financial disaster because mail spills constantly into my box asking me to subscribe to the Times on this latest, greatest, one-time-only deal.

Essentially if Hillary wins, the whole world will get the Hill Dream Machine for free on the backs of  the remaining American taxpayers. So why pay?

And if she doesn’t win, who cares about the Times?

In other words, no matter how the election turns out, the Times is finished as a real newspaper.

See also: Gannett media empire 3rd q loss spun as “increased revenue”

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