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Ads Plunge At NYT's New England Media Group

The New England Media Group, a New York Times Co. unit dominated by the Boston Globe suffered big time in March, experiencing a sharp drop in ad revenues. Ads were down a whopping 25.9%, largely due to a falloff in spend by travel, automotive, banking, telecommunications and financial services companies. For the full quarter, the group -- which includes the Worcester Telegram & Gazette -- posted a 9.3% drop in year-over-year revenue.

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