We have just confirmed that the NYT will close in on a $500,000 loss tomorrow, per CNBC.
That’s the first of the day, per The Wall Street Journal.
Bloomberg’s Mark Halperin said today that the company will be “closing in” on $2 million in net losses.
Here’s Bloomberg’s chart of NYT net losses over the past week.
The NYT is down $9.3 billion in the past six months.
Here is the full story from Bloomberg: Bloomberg, the largest news publication in the United States, is closing in a reported net loss of $932 million for the first quarter of this year, according to an analyst survey released Thursday.
The survey, conducted by Bloomberg LP and compiled by Bloomberg BNA, showed net losses of $1.7 billion, or 31 cents per share, for the three months ending Dec. 31, down from $2.4 billion, a decline of 7.6% in the same period a year earlier.
The New York Times Company, the parent company of The New Yorker and The Wall St Journal, will report net loss for the quarter of $2,821 million, or 61 cents per common share, a 12% drop from a year ago.
The company’s shares fell to $69.75 in afternoon trading, down 6.5% from $84.92.
Bloomberg reported that NYT employees have been informed of the change.
The firm said it will not disclose details of the deal, citing its policy not to discuss confidential matters.
Bloomberg said it expects NYT to post a net loss in the second quarter of the year.
The Bloomberg survey of 2,800 US newspaper and magazine employees was conducted Dec. 29-31.
It includes information on newspaper content, the company’s business, business models, editorial and other aspects of the newspaper industry.