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Why Doesn’t Obama Ban Iranian Press TV? by Kenneth R. Timmerman
The Case of CH2M HILL: $2 Billion in Crony Stimulation by Rusty Weiss
The Truth about George Soros by AIM Staff
Lifting the Veil on WikiLeaks by AIM Staff
The Truth about Al-Jazeera English by Cliff Kincaid
Reaganomics and Obamanomics in the Media and in Reality by Malcolm A. Kline, Don Irvine and Spencer Irvine
How State Budget Battles Could Mean More Criminals Back on the Streets by Michael Tremoglie
Radical Muslims, Environmentalists and the Green Jihad by Mark Musser
Russian-Backed Propaganda Networks Claim Obama is a CIA Agent by Cliff Kincaid
Media Conceal True Nature of Flash Mob Racial Violence by John T. Bennett
NBC’s Mitchell Should Resign Over Telling Gaddafi’s Lies (Part 1, Part 2, Part 3) by Cliff Kincaid
CASA de Maryland: The Illegals’ ACORN by James Simpson
Special Report
The Newswire
Take AIM Podcast
The Gray Lady is Singing the Blues
The New York Times is feeling the pinch from the continued economic slump and warned investors yesterday that ad revenue will decline more than originally expected.
At the Goldman Sachs Communacopia Conference being held this week in New York , Times CEO Janet L. Robinson revealed that advertising revenue would decline 8% in the current quarter, which is twice as much as the paper forecast in July.
“We’re seeing that advertisers are less frequently committing upfront because of the uncertainty in their business,” Robinson told the attendees.
The biggest decline is in print advertising, which is down by 10%, with the one-time ray of sunshine, digital ads, off by 2%-3%.
This compares to the second quarter where print ads declined by 6.4% and web ads rose by 2.6%.
Robinson also acknowledged that the ad climate was “getting more difficult ever since the second quarter.”
The only bright spot for the paper was the 4% increase in digital subscriptions, though that growth has tailed off significantly since the paywall was enacted.
Investors headed for the exits, driving down the stock price 6.9% to a new 52-week low of $6.18.
The unexpected ad slump will only increase pressure on the Times to cut costs and sell what assets they have left.
Earlier this year it was reported that the Times had lined up a buyer for the Boston Globe, which they purchased in 1993 and is estimated to be losing $85 million per year. But they didn’t proceed with the sale, hoping that the paper would turn around enough to fetch a higher price in the future. They probably should have sold when they had the chance.
The Times apparently had a little too much faith in Obama’s ability to turn the economy around.
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About the author
Don Irvine is Chairman of Accuracy in Media. He is active on Facebook and Twitter. You can follow him @donirvine to read his latest thoughts.
What an interesting turn of events. Seems like far too many people believed in Obama’s ability to turn the economy around with more spending and taxes. Maybe it’s time to turn their bias a bit. The bias towards the liberal media is an especially troubling problem for our kids. There’s a new publication out geared toward the teens called The Conservative Teen. It’s filled with news and information critical to helping them develop sensible, successful lives. Check it out online at http://www.theconservativeteen.com/toc.