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New York Times Co. revenue declines, but loss narrows

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New York—The New York Times Co. announced Thursday that its operating loss narrowed to $25.4 million for the third quarter, compared with $150.4 million for the year-earlier period. Revenue declined 16.9% to $570.6 million, from $687.0 million in the third quarter of last year. Internet revenue decreased 7.2% to $78.9 million. Internet ad revenue for the News Media Group, which includes NYTimes.com, fell 18.5% to $39.0 million, from $47.8 million. “Looking ahead, visibility remains limited for advertising in the fourth quarter,” Janet Robinson, New York Times Co. president-CEO, said in a statement. “But as is the case across the media sector, we have seen encouraging signs of improvement in the overall economy and in discussions with our advertisers. Early in the fourth quarter, print advertising trends, in comparison to the third quarter, have improved modestly, while digital advertising trends are improving more significantly.”
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