SEC should examine NY Times press release

The NY Times says earnings are up after a decline in March and April. The release blames those declines on the war in Iraq, which would normally have increased circulation. "Other factors that are constraining our second-quarter advertising growth include softer sales in the hotel and transportation/travel category related to SARS and geopolitical instability, a weak retail category, and the difficult job market, which continues to negatively affect recruitment advertising. At the same time, we are experiencing higher costs in the second quarter as a result of war-related expenses, higher newsprint prices and increased benefit and compensation expenses."

Are the increased benefit and compensation expenses related to the Raines, Boyd terminations? Could it be that the Blair scandel made it more difficult for the paper to sell ads?


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