Monday, December 22, 2008

Mr. bear is gunning for the Gray Old Lady

The New York Times (NYT) has to repay $400 million in debt in the first half of 2009. It does not have the money. It plans to mortgage its headquarters, but it is uncertain what that will bring in an uncertain real estate market. The firm’s Boston Globe and regional newspaper operations lose money, so they will be hard to sell. NYT is controlled by the Sulzberger family which has super-majority voting shares. That won’t matter much when the company runs out of money. Bailout time!

2 comments:

Mr roT said...

Sic transiit merda

Anonymous said...

福~
「朵
語‧,最一件事,就。好,你西...............................................................................................................................-...相互
,以讓>它使...................彿穿?