The New York Times Co has reported higher quarterly revenue as more people paid for its digital newspapers, and its shares jumped 11 per cent.
Circulation revenue jumped 16.1 per cent, mainly because of growth in digital subscriptions.
Paid digital subscribers to the Times and the International Herald Tribune totalled 640,000 at the end of the fourth quarter, an increase of 13 per cent from the third period.
The company, which also publishes the Boston Globe, is reaping the benefits of charging readers to pay for its digital newspapers, a programme it introduced almost two years ago.
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– (Reuters)