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| Fifth Column |
| End (NY) Times? |
| 2009-01-07 |
| 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 $400 million in debt. With more than $1 billion in debt already on the books, only $46 million 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. The Slimes cannot be allowed to fail. Look for a big bail-out to be given. And it should be re-titled 'Pravda.' |
| Posted by:Glenmore |
| #17 The name has value. One of the several emerging web aggregators will be able to pick up the name, and maybe even carry on some version of a print paper while the profits will largely be online. There may be ongoing physical value in the non-daily publications business (books by staff/periodical-special editions like NGS). The good news is the market is properly assessing the editorial and commentary content, which is clobbering the remaining value. It will be interesting to see how much cash the family is willing to throw at it before selling - doubtful that it will get to creditors. |
| Posted by: Halliburton - Mysterious Conspiracy Division 2009-01-07 22:42 |
| #16 Well the creditors will most likely own it for a short time, before selling it on. |
| Posted by: Bright Pebbles 2009-01-07 20:57 |
| #15 Bankruptcy destroys ownership. The debtholders get what's left. |
| Posted by: DoDo 2009-01-07 20:22 |
| #14 It'll have the same owners and staff, just without the debt. For a year or so. |
| Posted by: Glenmore 2009-01-07 19:37 |
| #13 Bankruptcy destroys debt. I'm sure a brand like the NY-Times is too valuable to be abandoned after bankruptcy. It just won't have the same staff, owners or debt. |
| Posted by: Bright Pebbles 2009-01-07 19:25 |
| #12 Nobody's going to buy it. Besides a tonne (that's a long ton) of debt, they have crappy cashflows, which is even worse. |
| Posted by: bigjim-ky 2009-01-07 16:25 |
| #11 |
| Posted by: GolfBravoUSMC 2009-01-07 15:33 |
| #10 I suspect the Sulzbergers will drive it in to Chapter 11, then reorganize with them holding the bag, and the common stockholders saddled with the debt. |
| Posted by: Anonymoose 2009-01-07 15:28 |
| #9 Someone is confusing process with product. Over a hundred years ago the then 'MSM' was dependent upon the telegraph and mail for its sources, which they in turn moved to the media for local transmittal. Where's the position of Western Union today in the pipeline of information. Technology is removing layers from the process. The net, blogs, and cheap wide spread available video technology are going to provide opportunities for those who are willing and able to spread the 'news'. Just look at the fight on what Youtube permits or doesn't permit to show now with their bias. That fight is because its already understood that the media war is now moving on to other fronts. That'll just generate a competitor or competitors to provide and distribute alternative sources. Those alternatives will not be the dead tree institutions. |
| Posted by: Procopius2k 2009-01-07 13:39 |
| #8 One, I don't want any media outlets to be out of business,. Yes, even the NY Times. Two, I don't want any media outlets to be bailout, either. The MSM have been bathing in biased reporting for years. I believe free market capitalism is the solution to the "bias" problem. Enter, the concept of "weblogs." The blogs have taken root as a powerful media tool. But, the blogs cannot exist without print media. One cannot be an antithesis to something that doesn't exist. Again, that doesn't mean that taxpayer funds should be used for bailouts. Free market always win. The NY Times will not go out of business because the TV media/reporters do not do their own reporting any more. A majority of the "top news stories" mentioned in the evening news is sourced from print media e.g. NY Times, WaPo, Boston Globe, etc. The NY Times will do what it takes to survive, e.g. they are advertising on the front page. They are taking free market measures to survive. Should the NY Times be allowed to go bankrupt? Yes. Should the MSM be exposed of their biased reporting? Yes. Should we hate the MSM media? No. |
| Posted by: Poison Reverse 2009-01-07 13:29 |
| #7 The Saturday Evening Post is still online too, but it and its influence are a shadow of their former selves. Once it starts hemmoraging the creditors dry up and the cash runs out. Then the employees go elsewhere. If American Media Inc. emerges from bankruptcy first, perhaps it can purchase the moniker from the estate. |
| Posted by: Nimble Spemble 2009-01-07 11:52 |
| #6 George Soros will save it. First, in addition to the debt any buyer would have to assume the unfunded pension liabilities. I don't see anyone putting money into this firm without an up front renegotiation of labor contracts. That will not win any friends in the liberal community. Second, with respect to Mr. Soros, he has done quite well working through new media. No reason for dances with dinosaurs. |
| Posted by: DoDo 2009-01-07 11:47 |
| #5 The "Old School" print media has been on the decline for years and will continue to do so. The "new generation" electronic media now rules. I believe there are computers in 80% of US households. Lefty articles/ opinions we beef about in the NYT are replaced with broadcasts on cable news outlets. |
| Posted by: Tom- Pa 2009-01-07 11:29 |
| #4 Burn the building to the ground and use it as a public toilet. |
| Posted by: DarthVader 2009-01-07 11:28 |
| #3 George Sorros will save it. The name alone is probably worth it and its value as a propoganda firehouse is pretty remarkable even years after their biases have become obvious. |
| Posted by: rjschwarz 2009-01-07 11:21 |
| #2 Don't tease. |
| Posted by: Procopius2k 2009-01-07 11:16 |
| #1 Wait a minute, Pravda has pretty good personals and it has a bang up If I were the Editor of Pravda, I'd sue for slander!!! Equating them with the Times? Indeed, geez |
| Posted by: James Carville 2009-01-07 11:01 |