5 ms·
The real issue here is the the Times is just trying to find a way to pay for their nice big NYC downtown tower. That and other typical newspaper-related overhea
by nicksergeant 16y ago
The real issue here is the the Times is just trying to find a way to pay for their nice big NYC downtown tower. That and other typical newspaper-related overhead, which used to be well within their operating budget, before the internet.
The newspaper industry is the dying industry of our time, and desperation set in a while ago. The NYT took a bit longer to appear desperate because of it's generally more loyal readerbase and large coffers, while most small dailies & weeklies have either drastically reduced overhead or completely packed up already.
- drewda 16y agoThe Times already cashed out of much of their stake in the headquarters building: http://online.wsj.com/article/SB123660214438270341.html http://online.wsj.com/article/SB123660214438270341.html And many newspapers still turn a reasonable profit, it's just that the major metros can't earn enough to pay off all the debts left over from the major consolidations at the start of the decade. One reference to that effect: http://www.huffingtonpost.com/craig-aaron/consolidation-is-no-cure_b_180356.html http://www.huffingtonpost.com/craig-aaron/consolidation-is-n...