Take Back the Times: New York Times, Tribune Co. Report Good Profits

After all the pissing and groaning they have done over recent months about their languishing fortunes, it is noteworthy that both the New York Times and the Tribune Co. surprised Wall Street in recent weeks by reporting returns that were better than expected. Both institutions easily made a profit in the third quarter.

At a time when the subprime mortgage crisis has sent many other big corporations reeling, such as Merrill Lynch and Citibank, both of which dismissed their CEOs in the last two weeks, the results at the two big newspaper companies look pretty good.

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New York Times, Tribune Co. Report Good Profits