New York Times’ digital revenue tops print for first time in ‘watershed moment,’ CEO says

The New York Times Co. for the first time Wednesday reported higher revenues from its digital business than its print operations, a “watershed moment” in the newspaper’s nearly 170-year history, according to CEO Mark Thompson.

“And we don’t think it’s likely we’re going to go back from this moment,” Thompson said on CNBC’s “Power Lunch.”

The Times reported $185.5 million in revenues from digital subscriptions and advertisements, compared with $175.4 million in revenues from print subscriptions and advertisements. In the year-ago quarter, the company reported $220.56 million in print subscription and ad revenues and $170.66 million in digital subscription and ad revenues.