NY Times Co. CEO says ad slump worsened in 3Q

September 21, 2011

NEW YORK (AP) -- The advertising slump at one of the world's best-known newspaper publishers is deepening.New York Times Co. CEO Janet Robinson says ad revenue during the July to September period is expected to fall by about 8 percent from the same time last year. That would translate into a decline of about $23 million.The company publishes The New York Times and 17 other daily newspapers. It previously predicted ad revenue would drop by roughly 4 percent -- about the same pace as the second quarter.Robinson announced the changed outlook Wednesday at an investment conference in New York. She blamed the shortfall on the bleak economy.Like most other major publishers, the Times Co. has been struggling for years to adapt as more print advertising shifts to the Internet.