More good news: NY Times circulation down.

The hits just keep on coming.

NY Times

... said net income fell 57.6 percent to $5.4 million, compared with $12.8 million in the quarter a year ago.

In other good news:

• Revenue for the quarter dropped 3.6 percent to $566.5 million
• At the New England Media Group, which includes The Boston Globe, advertising revenue fell 5.1 percent.
• At the Regional Media Group, which includes local newspapers from Florida to California, the decline was 9.7 percent.
•  Rising newsprint costs continued to weigh on the company.

The NY Times was actually aided by the decline in circulation because that meant that they had to buy less newsprint.  If this keeps up, the lower their circulation, the higher the profits.  If they stop printing the paper altogether their profits could go through the roof.  Another factor affecting their bottom line are the rats leaving the sinking SS Timeslies.  Columnists Bob Herbert and Frank Rich have left; top editors are also off the island.  The question remains, who are these people still reading the Times?  I mean why pay for disinformation when you can get all the news that you need to know from Drudge and Instapundit?