January ad revenues at the New York Times Company dropped 9%–awful, but a minor uptick from the shocking 12% plummet in December. Just as bad, Internet revenues in the news group grew only 9% year over year, a startling deceleration from the 20% range in mid-2007.
About Group decelerated to 25% growth from 35% in Q4.
Advertising weakness at NYT media group the result of:
weakness in telecommunications, technology products, transportation and advocacy offset growth in the financial services and media categories. Retail advertising revenues decreased mainly due to softness in home furnishing store, direct electronics and mass market advertising.
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