Loss-making New York Times hit by ad slump

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The New York Times posted a $335,000 loss in the first three months of this year, one of its worst-performing quarters in history, according to the International Herald Tribune.

The main reason was a 10.6 per cent fall in advertising revenue – worse than the US sector-wide fall of around eight per cent.

“While this is a challenging time for the media industry, we are diligently manging our business for the long term,” New York Times Company chief executive Janet Robison says.

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