New York Times Co.: The New York...
From Times Staff and Wire Reports
New York Times Co.: The New York publishing firm said first-quarter net income fell 69% to $5.1 million, while revenue eased 3% to $416.9 million. The firm said the principal reason for the income drop was a 19% decline in advertising linage at the New York Times because of the national recession and continuing weakness in the New York region’s economy. This situation is expected to continue throughout 1991 and should result in significantly lower earnings than in 1990, the firm said.
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