New York Times feels heat of US markets downturn

The New York Times could be feeling the effects of an on-coming US recession  after its parent company reported a 13 per cent drop in advertising revenues for December.

The NYT Company said January had appeared similar as healthcare, technology, classified and other sectors suffered.

 The Times still made a profit for the last quarter of 2007 – $53m compared to a loss of $648m a year earlier.

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