NEW YORK (Reuters) - U.S. newspaper publisher McClatchy said on Monday it would cut 1,600 jobs, or about 15 percent of its workforce, in an attempt to deal with the faltering economy and a decline in advertising revenue.
NYT(Reuters) - The New York Times Co reported better-than-expected quarterly revenue and profit, helped by higher digital subscriptions.
The magazine and newspaper publisher's shares were up 1.8 percent in premarket trading.
The company said in November that it had an increase of 41,000 paid subscriptions for both print and digital in the seven-day period since the U.S. election day.
By Sammy Pollack:Over the past decade, few industries have suffered more than the newspaper industry. However, as shown by the chart below, over the past year shares of Gannett Co Inc (GCI), publisher of the USA Today, and New York Times Co (NYT), publisher of the New York Times, have rallied sharply.
NEW YORK (Reuters) - Tribune Co, the U.S. newspaper publisher and broadcaster trying to pay off billions of dollars in debt, reported a loss from continuing operations and a 10 percent revenue drop on Monday as advertising sales fell.