New York Times Co. Reports $24 Million Profit, Thanks to Digital Subscribers -- NYT

In other mainstream media news, see Tribune withdraws from Sinclair merger, saying it will sue for ‘breach of contract’ (The Washington Post)

"The New York Times continued its digital growth in the second quarter of 2018, adding 109,000 digital-only subscribers. With that rise came an increase in revenue that counteracted a decline in print advertising.

The company said on Wednesday that revenue from digital subscriptions rose to $99 million in the second quarter, a jump of nearly 20 percent compared with the same period a year ago. Over all for the second quarter, total revenue increased 2 percent, to $415 million, and the company reported a profit of almost $24 million.

The Times now has 2.9 million digital-only subscribers, out of 3.8 million total."

New York Times Co. Reports $24 Million Profit, Thanks to Digital Subscribers -- NYT