Ad slump continues for New York Times Co.


The New York Times Company posted a big gain in Q2 net income, nearly doubling to 118.3 million bucks, but only from selling its TV group and WQEW-AM NYC. Its ongoing primarily print businesses saw revenues fall 3.7% to 788.9 million. Ad revenues were down 5.7% to 508.5 million. The company doesn't break out its only remaining broadcast property, WQXR-FM NYC, which is part of its News Media Group, anchored by the namesake New York Times. Revenues there were down 4.5%, with ad revenues down 6.9%.