NYT Continues Momentum
The New York Times's advertising revenue increased 4.7%. Performance was affected by the shift of Style and Entertaining, a special section of The New York Times Magazine, to fiscal November 2002 from fiscal October 2001. However, the Times says that, October 2001 advertising benefited from 9/11 related advertising. National advertising increased as growth in entertainment, transportation, financial services, banking and hotels/resorts advertising offset softness in healthcare/pharmaceutical and advocacy advertising.
The New England Newspaper Group's advertising revenue increased 1.8% for October 2002. National advertising revenue increased due to growth in travel and national auto advertising, which offset softness in corporate and entertainment advertising. The Regional Newspaper Group's advertising revenue increased 4.3% for October 2002 compared with October 2001. Retail advertising revenue increased due to growth in political advertising. Classified advertising revenue increased due to strength in automotive advertising as well as employment advertising.