You will never, ever guess what happened to the earnings of The New York Times Company and the Tribune Company. Not ever.
Okay, so you guessed: they went way down. The weirdest thing? The New York Times story about the The New York Times Company’s earnings report said this:
The company said that income from continuing operations fell 59 percent, to $22.1 million, or 15 cents a share, compared with $53.9 million, or 37 cents a share, in the period a year earlier.
while the Chicago Tribune’s story about the Tribune Company’s earnings report said this:
Tribune Co., the parent company of the Chicago Tribune and Chicago Cubs, said Wednesday its second-quarter earnings fell nearly 59 percent on continued slumping advertising revenues.
Weird, huh?
Anyway, given the earnings reports already issued from McClatchy, Gannett, Dow Jones, and Media General (summary: bad), I’d say this earnings season has pretty much been a kick in the teeth for the much-beleaguered newspaper industry.
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