The New York Times ad picture is getting slightly less atrocious, according to updated guidance it released for the fourth quarter today.
In a release it said print ad revenue would be down 25% in Q4, and online ad revenue would be up 10%. In the third quarter, print ad revenue was down 31% and online ad revenue was down 8%. Circulation revenue is expected to grow by 2% for Q4.
Thanks to the Times’ aggressive cost cutting, it will have saved $475 million this year, it also announced.
Its debt will be down to $800 million, compared to $1.1 billion from the year prior.
Still no word on whether or not the Times will build a paywall for its site, a decision that appears to be taking forever.
Janet Robinson, the company’s CEO, is presenting today at the UBS Media Conferenced. Maybe she will address the topic there.
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