Scripps, Times report fourth-quarter results

In what has been a tough few years for newspaper companies, The New York Times Co. today reported a fourth-quarter profit of $53 million, but overall revenue still fell 7.1 percent.
The company reported increased circulation revenue, which is declining at most newspaper companies, and rising income from other sources, including About.com, which continues to grow rapidly, according to a report in The New York Times.
The Associated Press reports that Media company E.W. Scripps' fourth-quarter profits fell 8 percent on declining advertising sales at its newspapers and television stations. Scripps reported a profit of $123.3 million for the quarter.
The preliminary results did not include an anticipated charge for writing down the value of its uSwitch Inc. subsidiary, an online shopping site.
To read the full story about the Times click here.
For the report on E.W. Scripps click here.