Boston Globe Drag on NYT Performance
The WSJ reports that the Boston Globe has really pulled down the financials at the NYT. BG ad revenue is off 10.4% for Q2 and 7.8% for Q1 – with August showing a 15.7% drop against last year. In a conference call with investors in June, New York Times Co. Chief Financial Officer Len Forman said that turning around the Boston Globe would be a long-term project “because they’ve had a marketplace that basically has just turned so far south….