NYT warns of 'challenging' quarter as ad revenue set to weaken, shares fall
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(Reuters) - The New York Times Co on Wednesday forecast a "fairly challenging" fourth quarter due to a drop in advertising revenue, which the publisher said may fall further due to changes in its ad platform, sending its shares down 9%.The company said it will no longer allow automated selling of ad space meant for its apps, and the 168-year old newspaper expects to lose digital advertising revenue in "single-digit millions" when it rolls out the new measure in January 2020."... this will be..