NYT keeps its head above water with one off cost cutting

Whilst much of the paper industry in the UK is grappling with how to return to profitability,it seems that the New York Times has at least found one way of making money.

Unfortunately results released yesterday show that it can only do that by vicious cost cutting and asset sales,which of course can only be done once.

A fact recognised by the NYSE which decided to shave 9 per cent off its share price.

And the Runes continue as its results show Print advertising falling 20 per cent year on year, while overall ad revenue fell 15 per cent. Total revenue fell 11.5 per cent.

Its response is the announcement that it will be charging heavy users of the site by next year.The arguments for that solution will be never ending and interesting Internet advertising, which now accounts for close to a quarter of overall ad revenue at the media group, rose only 4 per cent.