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New York Times Co. ad revenue down 4.9% in '07

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New York—The New York Times Co. reported Wednesday that advertising revenue fell 4.9% to $2 billion in 2007 compared with 2006. Total revenue declined 2.9%, while circulation revenue was flat. Internet revenue rose 20.2% to $330 million. The company earned $208.7 million in 2007, compared with a loss of $543.4 million in 2006. The 2006 loss was due to a noncash, after-tax charge of $735.9 million related to a write-down of intangible assets at the Times Co.’s New England Media Group, which includes The Boston Globe.
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