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N.Y. Times Co. reports profit drop

By Beth Healy

 |  Globe Staff  

  February 02, 2012

The New York Times Co. reported net income of $58.9 million for the fourth quarter, down 12.2 percent from a year ago, and said it has agreed to sell one-third of its remaining stake in the group that owns the Red Sox for $30 million. The Times Co., which owns The Boston Globe, said earnings per share in the quarter were 39 cents, compared with 44 cents a year ago. Total revenues declined 2.8 percent.

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