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a serious analysis suggests a big financial hit coming this spring, and an angel needed:
The thinking goes that the existing brands—The New York Times, The Washington Post, The Wall Street Journal—will be the ones making that transition [to web-based news] , challenged but still dominant as sources of original reporting.
But what if the old media dies much more quickly? What if a hurricane comes along and obliterates the dunes entirely? Specifically, what if The New York Times goes out of business—like, this May?
It’s certainly plausible. 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.
Wesen ist was Gewesen ist
Lets hope Thomas Friedman loses his job and blames it on globalization
Not to worry. They'll just get more funding from the Israeli government. They won't let such a valuable Message Force Multiplier go that easily.