NYT Co. Expected to be Down 18% in Q4

Jen: Wachovia senior analyst John Janedis and his team estimates that advertising revenue at The New York Times Co., will be down 18% in Q4 according to the pace of linage declines in December.  d linage counts in December, according to Wachovia, promises to be a repeat of November. Here is the rundown:

• Department Stores are off 15% with declines -- huge declines in luxury stores-- with the following advertisers: Bloomingdales (-11.5%), Macy's (-9%), Lord & Taylor (-30%), Saks (-32%), Bergdorf (-58%), Neiman Marcus (-53%)

• Movies, down around 11% but an improvement over November which declined in the high 20s.

• Telecom: Continues to plunge in the high 40s with drops in Verizon (-80%), T-Mobile (-69%), Cingular/AT&T (-17%) and Sprint (flat)