New York Times (NYT) - Get New York Times Company Class A Report recorded a 3.2% decline in August ad revenue, as weakness at its New England and regional newspaper groups offset a rise for its Internet and namesake divisions.
Overall revenue, however, rose 0.6%, helped by an increase in newsstand and home-delivery prices for
The New York Times
Total ad revenue from continuing operations fell to $128.7 million from $133 million last year. At the New York Times Media Group, which includes the company's core paper, advertising revenue grew 0.2%. That was boosted by a rise in national advertising, which offset declines in retail and classified advertising.
But at the New England Media Group, which includes
The Boston Globe
, advertising revenue tumbled 9%. The Regional Media Group saw ad revenue plunge 11%.
New York Times' About Internet division recorded a 27.4% increase in ad revenue, but that revenue makes up only a small percentage of the company's total.
New York Times' total revenue from continuing operations rose to $218.5 million from $217.2 million for the month.
Circulation revenue climbed 3.6% to $68.4 million. The company said revenue was up for the New York Times group, helped by the price increase, and was on par with last year and the regional and New England divisions.
Shares of New York Times recently were down 9 cents to $20.24.