The New York Times Co. said yesterday that its revenue is expected to decline by two or three percent due to loss of advertising in its print publications, MediaGuardian revealed.

Although the company forecast a growth in digital ad sales, these gains will not be enough to offset the print advertising losses. Furthermore, it expecting a revenue decline of 5 percent in subscription and newsstand sales, The Associated Press explained.

Photo source: Topnews.net.nz
Chief Executive Janet Robinson recognised that the price increases of The New York Times and the Boston Globe had affected the company. According to the Audit Bureau of Circulations, the weekly circulation of The New York Times went down in March by 8.5 percent, The Wall Street Jounal pointed out.

The publisher, which also owns the International Herald Tribune and other 15 regional newspapers, was initially expecting revenue of US$563.8 million. After the announcement, the company shares fell 52 cents to $7.45, the AP reported.