New York Times announces profit increase and strategy review

Buoyed by strong digital growth and cost savings, The New York Times Co. reported an increase in quarterly profit but said revenue was flat as its print business continued to decline.

The earnings report came on the same day that a sweeping examination of the newsroom, which will include identifying further areas for cost reductions, was announced.

“We need to develop a strategic plan for what The New York Times should be and determine how to apply our timeless values to a new age,” wrote Dean Baquet, the newspaper’s executive editor.

In the quarterly report, The Times said its net income for the fourth quarter was $52 million. Company revenue was $445 million during the last three months of 2015, the same as a year earlier.

The New York Times