End of Days for the New York Times?
1-liner, Media Gossip/Musings January 8th. 2009, 1:00pmNew York Slimes: Right wingers rejoice! The NYT is fiscally in deep trouble, and could file for bankruptcy this year. “Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next five months or the paper will default on some $400million in debt. With more than $1billion in debt already on the books, only $46million in cash reserves as of October, and no clear way to tap into the capital markets (the company’s debt was recently reduced to junk status), the paper’s future doesn’t look good.” Discounting the op-ed pages, this remains the best paper in the country. (The Atlantic)
25 Responses to “End of Days for the New York Times?”
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January 8th, 2009 at 1:02 PM
Oh Grey Lady, you are in need of some serious Botox.
January 8th, 2009 at 1:04 PM
does anyone know why Rupert Murdoch is rumored to buy the NYT? Is it simply to kill off a (left-wing) competitor, or to move it to the center-right like the WSJ?
January 8th, 2009 at 1:06 PM
Cause Murdoch wants to buy all media.
Congress will bail out the Times.
January 8th, 2009 at 1:08 PM
He’s a business man, the more stuff he owns, the better.
http://www.reuters.com/article/businessNews/idUSN0245553920080903
January 8th, 2009 at 1:10 PM
This would be depressingly hilarious.
January 8th, 2009 at 1:12 PM
I made the mistake of listening to a bill simmons podcast. 83 minutes. Never forgetting to bring my iPod to work again.
January 8th, 2009 at 1:13 PM
Also, a chart would have painted an even better picture, TBL.
January 8th, 2009 at 1:13 PM
what KC said about Murdoch.
Purdue Matt is definitely not happy his work has blocked commenting. I’m sure he’ll be on here tonight.
January 8th, 2009 at 1:15 PM
Lance – which podcast was it? The one where the ‘08 Celtics are better than the Bulls of the ’90s? Or the one where Tom Brady’s injury was a conspiracy set up by Eric Mangini?
Simmons is clearly on the downward slope of his career.
January 8th, 2009 at 1:15 PM
Makes me realize how good I have it made…..for now.
January 8th, 2009 at 1:19 PM
You take that chart and run it up against Gannett and McClatchey, they are all the same. Heck, even News Corp has taken it in the shorts lately.
January 8th, 2009 at 1:23 PM
@ saprissa: it was the 1/5 one about the NFL divisional playoffs. A bunch of names I’m unfamiliar with, and simmons asking for really out-there statistics, like QB ratings during the first four weeks after a concussion. I appreciate him going the extra mile but sometimes it’s just a lot of information on something that should be fun.
January 8th, 2009 at 1:26 PM
it was the 1/5 one about the upcoming divisional playoffs. he asked for stats on QB ratings the first four weeks after a concussion. I like him going the extra mile but sometimes it’s just way too much information on something that should be fun.
January 8th, 2009 at 1:26 PM
Mike -
Be prepared to be depressingly amused.
January 8th, 2009 at 1:27 PM
Bailout!
January 8th, 2009 at 1:34 PM
i pray that happens only because i would love to see the ivory tower crowd squeal in abject horror!i mean, people would go to hysteric lengths to stop such a buyout.
January 8th, 2009 at 1:37 PM
So the next step is nationalizing newspapers?
How then can we continue to rely on the Times to publish our national security secrets?
January 8th, 2009 at 1:49 PM
I believe Valerie Plame was first identified by conservative Robert Novak in the Post, not the Times.
January 8th, 2009 at 1:51 PM
Fuck you and your snooty crossword with opera clues
January 8th, 2009 at 2:02 PM
Damn, there goes my dream of working for the Times.
January 8th, 2009 at 2:02 PM
Did you read this after I posted it in the late-night thread the other night, TBL? No way they file for bankruptcy. I’m betting they get rid of their Boston assets (the Globe, part of the Sawx) first. I think they can still borrow against (or moreso, if they already are) that megalopolis building they finished a while back. Never did see the completed version, as I left the city shortly before it was completed. But lest we forget, they call it “Times Square” for a reason.
January 8th, 2009 at 2:05 PM
Actually it was a syndicated column published in the WaPo, I believe.
But I was thinking more along these lines.
January 8th, 2009 at 2:06 PM
It won’t go belly up, but cfor the first time ever, they sent me a subscription card with a discounted rate. They must be desperate if they want my business.
January 8th, 2009 at 2:21 PM
I’m sure there would be no conflict of interest whatsoever if Congress bailed out a newspaper that gives editorial opinion about their activies…
No way a major newspaper gets bailed out.
That being said, I’m not losing an ounce of sleep over that rag going under. =)
January 8th, 2009 at 3:11 PM
I don’t think it’ll ever “go under.” At least not in my lifetime. My guess would be it goes all digital except for Sundays soon. Or cuts out its Saturday print edition at the start, since Saturday is by far the least read daily edition and typically light on ads. Just a hunch, though.