Advertising revenues up at New York Times

NEW YORK - The New York Times Group has seen advertising revenues improve significantly over the past quarter, with a rise of 1.7% at its newspapers to $422m (£271m) compared with $415.1m for the same period last year.

Advertising revenues up at New York Times

Overall revenues at the company, publisher of the New York Times and the Boston Globe, were up by 4.7%.

At the flagship New York Times, advertising revenues were up by 3.6% for the month of September. However, this compares with September last year, when advertising revenues, already hit by the marketing downturn, dropped off after the terrorist attacks on the city.

Russell Lewis, president and CEO at the the New York Times Group, said: "Advertising revenues, which improved in each of our operating divisions - newspapers, broadcast and digital - continued to strengthen throughout the quarter, as they have done steadily throughout the year. Circulation revenues also continued to grow, well ahead of industry norms, benefiting from rate increases."

Lewis said the company remained comfortable with earnings estimates for the year of between $1.90 and $2.00 per share.

As well as the New York Times and the Boston Globe, the company publishes 16 other newspapers and owns eight network-affiliated television stations and two New York radio stations.

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