The New York Times Company revised its third quarter outlook on Wednesday, telling investors to expect some relatively disappointing financial results.
Specifically:
· Total revenues to decrease approximately 2 to 3 percent
· Print advertising revenues to decrease approximately 5 percent
· Circulation revenues to decrease approximately 5 percent
· Operating costs to increase approximately 1 to 2 percent
However, the Times said its digital advertising revenues should increase about 14 percent.
Overall, the company expects to report a loss between five and seven cents per share during the quarter.
Also on Wednesday, Bill Keller, executive editor of the New York Times, appeared on NPR to discuss the future of news. (The Observer, for some reason, live-blogged the appearance.)
For starters, Keller said the subscription fee to the Times’ forthcoming digital paywall will be “modest,” but didn’t disclose what it is.
He said he expects the Times to continue in print "10 years from now, 20 years from now," but admitted it could become a "boutique" product. "I expect that in my lifetime there will be a New York Times in print," he said. (RELATED: Sulzberger: We'll Stop Printing the New York Times 'Someday')
Keller added: "I think the future landscape of news media includes, in addition to small voices shouting into the void, a mix of survivors and start-ups … The Wall Street Journal will probably be a survivor. NPR will be a survivor."
