• The Wall Street Journal, Tuesday, April 21, 2009 10:15 AM

The New York Times Co.'s losses widened during the first quarter of 2009, reports The Wall Street Journal. The Murdoch-owned paper attributed the Times Co.'s losses to "another steep decline in advertising revenue," as well as costs related to job cuts and the write-down of leases related to its newsstand distribution unit.

The Times Co.'s first-quarter loss totaled $74.5 million, which compares with a reported loss of only $335,000 a year earlier. The Journal said the Times Co. has been particularly hard hit by the reduction in classified advertising sales, noting total ad sales fell 27% during the first quarter.

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