Newspaper decline still weighing on AP earnings

New York • Earnings at The Associated Press shrank substantially last year compared with 2015, when the news organization enjoyed a large tax benefit that skewed its results. Revenue also edged downward, reflecting continued contraction in the newspaper industry and a stronger U.S. dollar that reduced the value of overseas sales. Net income last year shrank to $1.6 million from $183.6 million in 2015, a 99 percent decline. The 2015 profit figure was bolstered by a one-time, $165 million tax bene...

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