MEDIA & ENTERTAINMENT

Newspaper Closure to Affect NYT Profit: New York Times Co. said it expects its closing of the money-losing Gwinnett Daily News will reduce its earnings by about 45 cents a share in the third quarter ending Sept. 30. The charge is likely to result in a loss for the quarter and would probably offset the 37 cents per share earned in the first half of the year. The media company closed the suburban Atlanta newspaper after Sunday’s edition and sold its plant to Cox Enterprises Inc., publisher of the Atlanta Journal and Constitution. The paper employed about 400 people. The New York Times Co. earned $1.9 million, or 3 cents a share, on revenue of $393.4 million in the third quarter of 1991.