The New York Times Co's (NYT.N) quarterly loss shrank after taking a writedown last year, the newspaper publisher said on Thursday, while revenue fell on a 27 percent decline in advertising sales.
The Times, which is getting ready to cut 100 jobs from the newsroom of its namesake newspaper, reported a third-quarter loss of $35.6 million, or 25 cents a share, compared with a loss of $106.3 million, or 74 cents a share a year ago.
Excluding layoff and other charges, the Times reported profit of 16 cents a share, up from 5 cents last year.
Revenue fell 17 percent to $570.6 million on ad declines. The company said fourth-quarter ad performance looks better.
The Times, like other U.S. newspaper owners, has been fighting revenue declines as more people get their news for free online and the recession cuts ad budgets.
It said it is moving ahead on a plan to sell its interest in the group that owns the Boston Red Sox baseball team.