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Anorak | The New York Times Is A Dead Tree Burning Money

The New York Times Is A Dead Tree Burning Money

by | 25th, July 2008

THE New York Times, the top newspaper brand in the world is on the slide:

NEW YORK (Standard & Poor’s) July 23, 2008–Standard & Poor’s Ratings Services
today placed its ratings for The New York Times Co., including the ‘BBB-‘
corporate credit rating, on CreditWatch with negative implications.
“The CreditWatch listing reflects an accelerating pace of total revenue
decline and a rate of decline in EBITDA in the first half of 2008 that
indicates the company may have difficulty achieving our expectations for the
current rating,” explained Standard & Poor’s credit analyst Emile Courtney.
“This is notwithstanding our understanding that The New York Times is
attempting to lower its cost base by more than $130 million in 2008.”

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Posted: 25th, July 2008 | In: Reviews Comment | TrackBack | Permalink