NEW YORK: The New York Times Company posted a $648 million (€497.9m; £329m) loss for the fourth quarter, following a write-down for the Boston Globe newspaper and other ailing media properties.
Revenues increased 4.3% to $931.5m, although the quarter included an extra week compared with 2005. Without it, revenues would have declined 1.4%, the publisher said, with advertising revenues slipping 3.7%.
Ceo Janet Robinson says the print ad market remains "under pressure" with automotive and technology sectors showing particular weakness.
The Globe has been hurt by the closure of its biggest advertiser, the city's Filenes department store, and the consolidation of local banks and telcos.
Data sourced from Financial Times online; additional content by WARC staff