Quagmire: NY Times Revenue Plummets 10.1% in July

Heartbreaking, isn't it?

New York Times Co. said Tuesday that its July revenue from continuing operations fell 10.1 percent this year as advertising revenue slipped 16.2 percent.

Overall revenue dropped to $235.9 million in July from $262.3 million in July 2007, the publisher said.

A continuing drop in classified ads and cutbacks in spending by movie studios, car companies and hotels were offset only partially by a rise in revenue from media, financial services, advocacy and health care ads for a net drop of 16.2 percent.

The company's flagship The New York Times paper had 15.3 percent lower ad revenue. At its New England media group, which includes The Boston Globe, July ad revenue dropped 24.5 percent.

Newspapers across the country have seen revenue decline as advertisers shift spending online and circulation slips.

They're not exactly going broke, yet continue to hemorrhage revenue.

Still doesn't prevent them from driving the left-wing cart over the cliff by continuing to reveal sensitive information.