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Today's grim Globe tiding

Advertising revenue for the NYT Co.'s New England Media Group--which includes the Globe and the Worcester T&G--dropped nearly 32 percent in the first quarter of 2009 compared to the same period in 2008.

By way of comparison, the New York Times Media Group's ad revenue fell about 27 percent. Which is pretty bad too, and will only increase the Times Co.'s perception that something needs to be done to staunch the financial bleeding the Globe has been inflicting on the Times Co. as a whole.

UPDATE: The Globe's own write-up (via Universal Hub) notes that the Times Co. heaped blame on the New England Media Group in today's announcement:

The company said the weak results in its newspaper division were "mainly because of significant losses at the New England Media Group," which includes the Globe and the Worcester Telegram & Gazette. The Times Co. does not break out earnings or losses for the group.

 

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