Posted on 10/31/2014 1:48:21 PM PDT by jimbo123
The New York Times will announce its third quarter earnings on October 30. It’s make or break time.
On October 1 President and CEO Mark Thompson said 100 plus staff cuts would “safeguard the long-term profitability of The Times,” and were not the result of any short-term business difficulties. The Times seems more confident chopping its way to survival than developing new revenue sources, and sticking by them, until they deliver profitability on a consistent basis.
The Times has not recorded consistent profit growth for five years and can’t realistically expect it again soon. For every bit of good news its executives cling to, there’s worse, sometimes much worse, bad news to go with it. That’s because its balance sheet is in worse shape than executives will admit and its proven ability to embrace change has been limited.
(Excerpt) Read more at forbes.com ...
I wish them nothing but bankruptcy.
All the news thats sh## to print
It will be propped up by the big money supporting the RAT.
All the news that advances our agenda.
I doubt that the NYT is, now, at a “make or break” moment. The rules of capitalism apply less and less with each passing year; policies and companies that have no economic reason to continue existing still manage to hobble on for many quarters and years beyond what an informed, reasonable man could ever imagine is even possible.
Carlos Slim loaned them $250 million a couple years ago.
losing millions in the quarter is great news
Correct.
Its a political asset to larger entities. Its no longer an ordinary business.
In a bureaucratic world it provides more value to large businesses playing the corporatist political game than it ever did as a venue for commercial advertising.
“loaned” was paid back in stock I think, he owns a big part of it I think
Imagine a media that doesn't doctor the news or create fake stories out of thin air.
Maybe the Koch Bros. will purchase this rag.
Correct.
“The News As Seen Through Our Views”
Very insightful analysis
Hi.
I thought Mr. Slim took care of the “balance sheet problem.”
5.56mm
“CEO Mark Thompson said 100 plus staff cuts”
that must be a misprint. I sure they meant to say mitt Romney. I mean, he’s the only one cruel enough to layoff hard working people.
They wiped out $13 million in profit from the year ago quarter and turned it into a $9 million loss this quarter.
This is a negative profit swing of $22 million dollars in one quarter!
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