How Much Did Your Favorite Fortune 500 Media Company Lose?
The story of today is The New York Times Co.‘s disastrous first quarter results, but it’s not the only media outlet dealing with immense loses.
Over at paidContent.org (which cashed in during 2008), Rory Maher put together a list of media companies on the Fortune 500 list that struggled during the previous year.
Time Warner, the country’s 48th biggest company (and its largest media-related one), saw $13.4 billion fly out the door. CBS was close behind, losing $11.7 billion, while Gannett took at hit to the tune of $6.6 billion. We’d like to say this is going to get better soon, but we’d just be lying.
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