NYTimes sees sharper ad sales drop in third quarter

New York Times Chief Executive Janet Robinson, speaking at a Goldman Sachs conference on Wednesday, cited tough economic conditions, saying advertisers were less confident about making upfront commitments.

She said print advertising revenue was feeling the sharpest pinch, forecasting a drop of about 10 percent in the quarter. Digital advertising revenue is likely to be down 2 to 3 percent, she said.

The company said in July that advertising revenue was expected to decline in the 4 percent range.

Newspapers have been hammered by declines in advertising revenue for several quarters as marketers spend money in other media, especially digital. New jitters that the economy could face another downturn only add to the industry's woes.

Robinson said circulation revenue would be up about 4 percent.

The paper's first female executive editor, Jill Abramson, told Reuters in an interview on Wednesday she hoped the ad revenue drop would not lead to any more job cuts at the paper over the next year.