Times Co. continues to bleed money

Things continue to look down for the New York Times Company.

The company posted net losses of $74.5 million for the first quarter this year as advertising revenues sank 27% organization wide.

NY Times Co. continued to point the finger at the Boston Globe and Telegram & Gazette piece of the company, saying the losses were “mainly because of significant losses at the New England Media Group.”  Advertising revenue in that segment was the weakest companywide, sinking 31.6%, compared to 27.3% at the New York Times Media Group and 29.3% at the Regional Media Group.

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