• The Wall Street Journal, Thursday, July 21, 2011 3 PM

The New York Times' online paywall appears to be working, with the company reporting 224,000 paid digital subscribers, another 57,000 subscribers on e-readers, and a slowdown in the decline of print subscriptions -- because readers have less incentive to cancel them now that they'd need to pay for online access.

Nonetheless, as Russell Adams reports, print ad revenues at Times papers declined 6.4% year over year in the second quarter, while digital ad revenues rose 15.5%.

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