Posted on 11/24/2008 11:05:16 AM PST by AIM Freeper
An article in Advertising Age reports that The New York Times slashed its quarterly stock dividend from 23 cents in the third quarter of 2007 to 6 cents for the same period of 2008.
America’s “newspaper of wretched” is in a steady - and, in some cases, steep - decline. While many factors are involved, clearly, a lot of readers are fed up with the Times’ inveterate bias, highlighted in its coverage of the 2008 campaign.
With the announcement of the dividend cut, shares of New York Times stock fell 6.64% to close at $5.34 on Friday. In the past year, shares of The New York Times Co. have lost a staggering 66.8% of their value.
From October 2007 to October 2008, the paper’s ad revenue fell 16.2%. Most significantly and tellingly, readers continue to turn to other news sources.
Weekday circulation of The New York Times declined from 1.18 million in 1993 to 1.06 million in 2007. This year, circulation is expected to drop below 1 million. The steepest loss of readers was in the New York City market, where circulation plummeted from 757,184 in 1993 to 501,302 last year - a drop of over 25%.
The loss of ad revenue over the past year can in part be attributed to the economy. But what about the decline in readership over a 15-year period, while the population continued to grow?
Disgust at The New York Times’ palpable bias is a factor. As time goes by, The Times has swung further and further to the left - not just in editorials and commentary, but also in what purports to be news coverage. The way The Times became an unofficial adjunct of the Obama campaign is just the most recent, egregious example of how, standing its motto on its head, the paper makes the news fit its agenda.
What’s bad for The New York Times is good for America. May its fortunes continue to decline.
Wonderful news.
OK...so when will people start boycotting CNN and MSNBC so we can see the same death spiral?
Not to forget that the man at the helm, “Pinch” Sulzberger, is a horse’s patoot and couldn’t skipper a turd in a toilet bowl.
Just say no, that will destroy the NY Times faster than any boycott will.
I wonder if they petitioned their man Obama for bailout money yet.
I am pulling the plug on cable TV which will mean all TV. Why give them money when the MSM manipulates everything. Even Fox is on their side now. NFL games have Olberman on NBC. No more.
I had heard hedge fund manager Phil Falcone was trying to takeover NYT. Phil supposedly wanted to change NYT to make it less left wing but never read too much more.
I scanned the story and saw their criculation in NYC dropped from 750K+ to about 500K or so! A loss of 250,000 readers before the slowdown really his the city? Wow.
Save a million trees from becoming yellow/red journalism propaganda. Avoid the NYT.
As a small boy, I can recall my father's admiration and respect for the New York Times newspaper. One day a week, I think Sunday; my father would drive to the newsstand downtown and get a copy of this enormous newspaper. He often commented that the New York Times newspaper was an education unto itself.
I had imagined that one day the Times would play an important role informing me of the events of the nation and the world and for a short time, it did.
The New York Times's masthead logo was, and perhaps still is, "All The News That's Fit to Print”, dated back to 1896. If it were the masthead today, it would be a lie.
It is, and it is.
Just part of the master plan. MSM starts to croak, begs Obama for bailout money, and the circle is complete. Official State-Owned media. No more pretending, no more thin veneer of "objectivity". The Ministry of Truth is born!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.