New York Times scoops wins and big loss

IT was a bitter, sweet day for the New York Times overnight as the company scooped five Pulitzer prizes and simultaneously reported a dramatic fall in earnings for the first quarter of the year.


Its journalists won awards for investigative journalism, breaking news and international reporting, feature photography and criticism.


Its accountants didn’t win anything. They reported a wider than expected loss for the year to March 31 of US$74.5 million.


The company broke even in the corresponding period last year.


The loss was equivalent to 52c a share, although slightly more than 20 per cent of that – 11c – came directly from costs associated with redundancy actions.


Its revenue fell to US$609 million, a drop of 19 percent – coincidentally the same percentage of ad revenue loss reported by Singapore Press Holdings for the last quarter.


Its award-winning feats concentrated on its international reporting from Pakistan and Afghanistan, plus a photography Pulitzer to Damon Winter for his work on Barack Obama’s presidential campaign.


It won its investigative Pulitzer for reports by David Barstow on the retired generals hired by TV stations who were in fact “embedded” into TV companies by the Pentagon to defend the war in Iraq.


The Las Vegas Sun won the most prestigious Public Service Prize for reporting on the high death rate among construction workers on the Las Vegas strip.




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