The NYT may well be worth less than its current market cap, given that it has a very high overhead in terms of its operating costs, has to manage a lot of peopl

The NYT may well be worth less than its current market cap, given that it has a very high overhead in terms of its operating costs, has to manage a lot of people, and is losing money - see their own reporting at http://www.nytimes.com/2012/02/03/business/media/quarterly-profit-falls-12-2-at-times-co.html http://www.nytimes.com/2012/02/03/business/media/quarterly-p... The NYT is shrinking, Instagram is growing - that too, matters.