Profits slip at New York Times

Profits at the New York Times Company's in the final quarter of 2010 fell 26% compared to the same period the previous year largely due to declining print advertising. Ad revenue dropped more than 7%. The company said digital advertising revenue grew by 11%. But that accounts for just 15% of the company's total revenue. Some 43% comes from print ads. Most of the remainder comes from circulation. The full-year results, which showed a profit of $108m (£67m), benefited from cost-cutting. Source: NY Times More details: NY Times Co / Yahoo News