Posted on 07/09/2009 7:53:20 PM PDT by bruinbirdman
The visit last month was particularly significant as it was his first trip since the New York Times and IHT websites were merged to a single global product.
The tie-up in March served as a precursor to a key decision in August on how best to charge for access to the group's websites, reversing an earlier decision not to, and becoming the first major non-financial newspaper group to take the step.
The move comes as the advertising downturn proves particularly challenging for the listed group, which has seen its market value fall 65pc to $707m (£438m) in the past year.
Advertising revenues have dropped about 30pc in the past year at the New York Times and radical cost-saving measures have been implemented. The dividend has been scrapped, staff benefits changed and a sale-and-lease-back on its towering 52-storey Manhattan headquarters has raised $225m. The business, which carries about $1bn in debt, said it had borrowed $250m from Mexican billionaire Carlos Slim Helú, who holds a 6.9pc stake.
"These problems are not solved overnight but we've been evolving over the past five years. We've restructured our print business expenses, we've maintained our investment in our newsroom and we have invested and expanded in digital," says Mr Heekin-Canedy, who has helped reduce head count at the group from 3,400 to 1,300 in the past five years, although he adds that journalist jobs were not affected.
"It has happened over time and we believe we have been able to maintain the value of our customer product and service. None of that reduction was journalists," he says. "We've evolved our business structure to keep our resources devoted to journalism and to building our website."
Mr Heekin-Canedy, president and general manager of the group, says his key objective now is to find new revenue streams, with
(Excerpt) Read more at telegraph.co.uk ...
I ain’t investing in that deal I can sho tell you that that is a loser fer shur
The end of the NYT is quickly approaching...
Freepers will be lining up to pay! /sarc
The NY Times should charge for their propaganda er I mean content.
The wanted O, they got him, economy tanked because people with money sent it out of the USA or stopped spending. This includes the middle class. By shilling and being O’s wh*re they delivered the coup de grace to their business or is cruder terms - The NY TIMES dug their OWN Grave.
Sweet! Now they’ll become even less relevant.
Stupid Liberal NYTimes!
It’ll be a snowy day in July before I pay a penny to read a single word from Pravda By The Hudson.
...people won’t pay...it’s not a liberal- conservative issue either...they’ll be insulted to be asked to pay for what they feel entitled to for free...free exchange of information was what the “information superhighway” was all about.
No advertisers and no readers = the end of that fag Sulzbergers democrat party propaganda rag.
Gee, I don’t even patronize their free stuff now. Fat chance of me paying for their partisan DNC propaganda.
Who will pay?????
Finally I have a reason to take out a second mortgage!
Congressman Billybob
Paying for AP content is a bit silly. It can be found everywhere.
And then there’s UPI. Then BBC. Then independent sites.
The NYT has a very narcissistic view of itself.
A stimulus plan/slush fund/crap sandwich that doesn't work - bailouts followed by bankruptcy - socialized medicine which has failed everywhere it's been tried - Sosha Security - Medicare - Medicaid - Kaleefornia.
I'm sensing a pattern...
Ironically, the conservative talk radio they love to look down on are making money hand over fist even in Obama's economy. It's not the technology either. Don't forget in the 70s AM radio was dying, Rush revived it with the first syndicated radio talk show and the rest is history.
Please, please, please, PLEASE charge for NY Times content!
For that matter the Internet sites for AP, CNN, MSNBC, the Washington Post etc, etc., ad nauseum... seal off your wonderful access and PLEASE CHARGE AWAY.
(The end to free democrat party propaganda will result, along with the guaranteed demise of these evil tools)
All the more reason to not go to the NYT even online much less subscribe to the uber liberal tabloid.
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