The Times reported a net loss of $88.1 million, or 60 cents a share in the second quarter, compared with a net loss of $119.7 million, or 79 cents, in the same period a year earlier.
The Times’ Amy Chozick reports:
Paid digital subscribers to the Web site, e-reader and other digital editions of The Times and The Herald Tribune were up 12 percent, to 509,000, at the end of the second quarter from 454,000 in March. Paid subscribers to The Globe’s e-reader and replica editions and BostonGlobe.com were up about 28 percent, to 23,000 subscribers.
Digital subscriptions have helped circulation revenue at The Times and Herald Tribune surpass advertising revenue. The newspapers had combined circulation revenue of $194 million, compared with advertising revenue of $171 million.
Meanwhile, Times Company chairman Arthur Sulzberger Jr. tells analysts: “Our board has made meaningful progress in the search for a new CEO and we expect to have more to share with you before the end of this quarter.”
* New York Times Co posts a loss (NYTimes.com)
* NYT Co. has up day on Wall Street as 2Q loss narrows (Bloomberg.com)
* Times Company’s CEO search hits final stretch (Capital New York)
* Read the Times’ second-quarter results press release (Yahoo Finance)