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Quarterly Profit Takes a Tumble at NYT

Heads are no doubt bowing at The New York Times as the paper’s parent company reported a fourth-quarter profit decline of 12.2 percent—a consequence of the group’s inability to make up for continuing drops in print advertising revenue with rising subscriptions and digital advertising. –ARK

The New York Times:

Net income was $58.9 million, or 39 cents a share, compared with $67.1 million, or 44 cents a share, in the period a year earlier.

For the full year, the company reported a net loss of $39.7 million, or 27 cents a share, compared with a profit of $107.7 million, or 71 cents a share, in 2010.

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