Asset sales help quarterly profit at The New York Times Co.
The New York Times Co., which owns newspapers and news websites including The Boston Globe and Boston.com, reported a big jump in fourth-quarter profit Thursday, largely because of gains from asset sales, according to The New York Times newspaper website.
Net income was $176.9 million, or $1.14 a share, a 200 percent increase from $58.9 million, or 39 cents a share, in the period a year earlier.
(The Times Co. said that its New England Media Group, which includes The Globe and Boston.com, had fourth-quarter revenues of $107.7 million, up 3.1 percent from the same quarter a year ago.)
To read the full story on The Times website, please click here.
In its press release, The Times Co. said, “Paid digital subscribers to BostonGlobe.com and The Boston Globe’s e-readers and replica editions totaled approximately 28,000 as of the end of the fourth quarter of 2012, up approximately 8 percent since the end of the third quarter of 2012.”
The release also said, “Paid subscribers to The New York Times and the International Herald Tribune digital subscription packages, e-readers, and replica editions totaled approximately 640,000 as of the end of the fourth quarter of 2012, an increase of approximately 13 percent since the end of the third quarter of 2012.”