The Press: Hard Times at the Times

Even the mighty New York Times is not immune to the profit squeeze that affects much of the press. In fact, the Times has been hit harder than most. Despite record revenues of $209 million, net income for the first nine months of this year is down nearly a third, to $6,435,000. Although Sunday readership continues to grow, circulation of the daily paper has dropped 31,842, to 814,290 in 1971, and ad volume is off more than 6%, or 3,649,000 lines.

To underline the difficulties, Publisher Arthur Ochs ("Punch") Sulzberger recently sent a letter to all 5,500 Times employees at their homes....

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