June ad growth eases at Times Co.

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A June ad revenue growth slowdown emerged at the New York Times Co., which still reported a 22% gain in second-quarter earnings to $101.7 million on a 13.6% gain in revenue to $885.6 million. June ad revenue for the New York-based company was up 9.8% from the year-ago month, but the growth rate was lower than the 14% ad revenue gain posted for the second quarter as a whole and the 14.7% gain for the first half. The year-to-year comparisons exclude results from the Worcester Telegram & Gazette in Worcester, Mass., which Times Co. acquired in January. At the flagship New York Times, ad revenue was up 18.2% for the first six months of the year, 14.8% for the second quarter and 12% for June, led by continued strong spending by national advertisers. At The Boston Globe, ad revenue was up 14.1% for the first half, 14.8% for the second quarter and 10% for June. At the Times Co.'s 22-newspaper regional newspaper group, ad revenue was up 4.4% for the half, 5.1% for the second quarter and 2.2% for June.

Copyright July 2000, Crain Communications Inc.

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