It looks like About.com contributed most of the quarter’s good news for the Times. Its operating profit (earnings before interest and taxes) was $12.6 million, up 10 percent. The rest of the company was negative. Total operating profit was $6.2 million.
The Journal weaves the news into a nice overview of the not-so-nice newspaper landscape.
Some bad tech news
Offsetting the good tech news of late (including Google’s 30 percent profit gain), already-struggling American Micro Devices posted a sixth straight loss and said it would slash 1,650 jobs. Bloomberg says sales were down 22 percent from a year ago, while the WSJ says sales were up 22 percent.
Let’s go to the tape… And the Journal wins. Up 22 percent.
Power of the pen
The Los Angeles Times’s health-care investigations continue to have repercussions in California. The paper reports that:
Thousands of people whose policies were canceled by California health insurers will have a chance to win back their coverage and be reimbursed for outstanding medical bills, the Schwarzenegger administration announced Thursday.
The state’s action is the boldest yet in dealing with the industry’s increasingly controversial practice of canceling individual coverage—known as rescission—after patients have taken ill and submitted medical bills.