Whither the New York Times?

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Alex Szczech's picture
Alex Szczech
Status: Silver Member (Offline)
Joined: Dec 31 2008
Posts: 105
machinehead's picture
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Re: Whither the New York Times?

Good catch, Alex. This bit of the article sounds pretty grim --

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 $46 million 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.

I'll say. Sounds mighty serious. I thought the article WAS serious. Then I read this --

The collapse of daily print journalism will mean many things. It will seriously
damage the press’s ability to serve as a bulwark of democracy.

ah ha ha ha



'A bulwark of democracy.' Help, I've fallen on the floor and can't get up! More like a 'bulwalk of the plutocracy.' Laughing

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