|
NYT Sitting On $686 Million It Could Give the Homeless
The New York Times is deeply concerned about the homeless, as we know from the heart-rending articles it runs about them.But when push comes to shove, it tells the government and the public (quietly) that it doesn't have to worry about the virus, because it's sitting on a big pile of cash. Hypocritical bastids. From page 20:[SEC.gov] The worldwide economic slowdown caused by the pandemic also led to a decline in our first-quarter 2020 advertising revenues, and to the extent conditions persist, we expect that our advertising revenues will continue to be adversely affected, including in the second quarter of 2020. However, our strong balance sheet has enabled us to continue to operate without the liquidity issues being experienced by many other companies. As of March 29, 2020, we had cash, cash equivalents and short- and long-term marketable securities of $686.9 million, and we were debt-free. We believe our cash balance and cash provided by operations, in combination with other sources of cash, will be sufficient to meet our financing needs over the next twelve months, enabling us to continue hiring in our newsroom, and in product and technology and continue investment in important growth areas. Posted by: Matt 2020-05-11 |
| http://www.rantburg.com/poparticle.php?ID=571190 |