Cowboy Confessional

The financial news has initiated their death watch over the New York Times.

The AP reports that the yellowest of journals has a mere $46 million in cash, which does not begin to balance a whopping $1B in debt. If the Times were a profitable company in a growth industry, this situation might be survivable. However, due to their serial disinformation campaigns and associated skullduggery, the NYT is flushing down the sewer pipe of finance. With circulation abating and advertising revenues falling faster than Taliban soldiers, their demise seem inevitable.

To wit: The New York Times has $46 million in cash and lost $41M according to their last income statement. Assuming that things do not get worse for them (and given that advertisers retreat in a recession, things are already worse) they could be bankrupt in a year.

Now that is change I can hope for.

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This entry was posted by Guy Smith on Monday, January 19th, 2009 at 11:34 am and is filed under Media. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.