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Current DateTime: 07:17:57 25 Nov 2009
LinksList Documentid: 31765984
Expiration DateTime: 11/25/2009 7:18:04 PM
    • A Facebook Christmas  24 Nov 2009

        Sheryl Sandberg, who oversees all of Facebook's business development and sales, tells CNBC's Julia Boorstin what the company has planned this Christmas.

    • Looking Left  23 Nov 2009

        CNBC's Julia Boorstin looks at the weekend's box office and Twilight's gigantic "New Moon" opening. She also discusses California's looming unemployment insurance crisis and a waiting list for pro football in Los Angeles.

    • Microsoft-Murdoch Scheme  23 Nov 2009

        Microsoft is reportedly talking to News Corp about teaming up on a search plan that would withhold content, including the Wall Street Journal, from Google, with Matthew Garrahan, Financial Times correspondent, and CNBC's Julia Boorstin & Bill Griffeth.

    • Inside Paramount Pictures  20 Nov 2009

        Discussing Viacom's Paramount Pictures strategy, with CNBC's Julia Boorstin and Brad Grey, Paramount Pictures.

    • Oprah Show to End in 2011  19 Nov 2009

        CNBC's Julia Boorstin has the details on Oprah Winfrey's decision not to renew her contract with CBS syndication.

    • Kids and Finances  13 Nov 2009

        A look at some of the stories of several inner city teens trying to become the business leaders of tomorrow, with CNBC's Julia Boorstin.

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Current DateTime: 07:17:58 25 Nov 2009
LinksList Documentid: 31625651

Media Money

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Apr.17
1:11 PM ET
Thursday, 17 Apr 2008
New York Times "Headlining" Internet For Better Days

CNBC.com

The New York Times Company posted a $335,000 loss for the first quarter--a dramatic drop from the $23 million profit the company earned in the year-ago-quarter and missing Wall Street estimates.

Dragged down by a 9.2 percent drop in advertising revenue, the company's revenue slipped to $747.9 million, down from $786 million a year ago. In the company's conference call, they said that these results reflect general economic struggles, as well as a shift in ad spending away from traditional print advertising.

The New York Times [NYT  Loading...      ()   ]  is struggling to redefine its business in the midst of a seachange in the advertising business. Its classified ads business is facing steep decline, but luxury advertising is growing, a business the company is playing into by growing its 'T' luxury style magazine. (A quick flip through reveals the big names like Gucci paying up for slick ads).

The company expects the luxury segment to continue to perform well, up in the mid-single digit range.

One big focus on the conference call: emphasizing the company's new focus on, and dedication to, online ads. Boasting that the Times is the tenth most visisted parent company on the web with 48.7 million unique visitors in December.

Now, most of the Times advertisers are buying cross-platform, both online and on the web. Ad prices--both display and cost-per-click--are up, but it's still just the beginning for the company. The company's future hinges on whether it can transition from being a newspaper company to being a next generation content generator, i.e. a media company that distributes in multiple places.

Notably, the company wouldn't comment on the fact that in March the company support the election two board candidates proposed by activist hedge funds Harbinger Capital Partners and Firebran Partners after they threatened to wage a proxy fight. The annual shareholder meeting is on April 22. We'll probably hear more then about the hedge fund pressure on the Times, and how the company is responding.

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