Posted on 03/17/2006 7:32:03 AM PST by abb
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed New York Times Co.'s (NYT) A2 senior unsecured long term debt, and P-1 commercial paper ratings on review for possible downgrade. The agency said the review is prompted by Moody's growing concerns about the media company's high financial leverage, deteriorating operating margins and weak free cash flow available for debt reduction, combined with concerns over intensifying cross media competition, including the Internet, and growing event risk in the newspaper sector. A multi-notch ratings transition will be considered in light of the company's financial and operating challenges, Moody's said.
BWAHAHAHAHA!
It couldn't happen to a nicer paper.
:)
paper? U mean bird cage liner, right?
Stay tuned for negative articles about Moody's.
exactly
I see firings. I see more layoffs. I see good news....
I can't tell you how sorry this story makes me.
At least not with a straight face.
This is an excellent day for media news!
GMTA!!
See my good news charts in reply #14.
A big down rating by Moody's may drive the left wing mutual fund companies away from owning NY Slimes stock and Tribune stock.
I would buy GM stock/bonds before I bought a single share of newspaper stocks or any of their bonds.
I wonder what else they own. It seems to me that if we knew, we could cut off their sources of offsetting income and drive them out of business even quicker!
Maybe it'll get so cheap that Roger Ailes will buy them.
Tee NYT is sold in most Starbucks in So Cal. The stack is always full because nobody buys them. Talk about a waste of money.
Boo Hoo Hoo
Newspapers in Iraq are going in a better direction than the NYT.
POLL: NYTimes popularity at record low; Bush three times more popular
Does any rational American think that a president who is doing exactly what he said he would do, said it prior to being re-elected, has plunged 20 points in popularity, especially when media shenanigans and lying played a part in his getting re-elected?
The point the media is trying to make with its biased polls defies logic.
I'm noticing a lot of the energy has gone of out of Dem true believers here in NYC.
Get yer liberal propaganda ....real cheap!!!
Because of the company's weak cash flow, high financial leverage, and declining margins.
If that wasn't enough, Moody's said it is concerned about growing media competition, including the Internet, and what it calls ''event risk'' in the newspaper sector.
The New York Times Co.'s share buybacks over the last four years, debt-financed acquisition of About.com, and capital expenditures for its move into new headquarters ''leaves the company with a significant debt burden, heightened adjusted leverage, resulting in diminished financial flexibility,'' ...
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1002198733
 TIMES TO OUTSOURCE PANIC HITS NYT STAFF AS BANKRUPTCY LOOMS  |
Very nice post devolve. That could almost be the NYTimes staff heading SOUTH across the border, lol!
Air America Radio, The New York Times and CNN cannot survive with such a weak audience.
They will all die soon enough.
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Well, look at this little disclosure. One of the most expensive stocks in America appears to have the Enron Virus which leads to Enroning/cooking the books.
The Post will not reveal circulation and ad revenue figures to Media Life, but data available elsewhere paints an alarming picture. Ad revenue is up just slightly over the past five years, to $783.5 million last year from $770.6 million in 2000, according to TNS Media Intelligence.
But circulation has tumbled, falling by 137,695 for the weekday paper in the past decade, from 816,474 for the year ended Sept. 30, 1995 to 678,779 for the six-month period ended Oct. 2, 2005. That's a decline of 17 percent. That's according to numbers from the Audit Bureau of Circulations, the latter of which has not been audited yet and is based on publisher statements.
Warning to all Freepers. You should check your mutual funds to see if they are supporting these left wing dinosaurs: WPO, NYT and TRB. If so, you might want to trade those funds for those without the Enron virus/time bombs, aka, cooking their books.
A great thread to read with my morning coffee. It's a beautiful day in the neighborhood.
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