Posted on 07/18/2006 10:13:38 AM PDT by EagleUSA
NEW YORK -- The New York Times plans to shrink the size of its pages in 2008, making them one-and-a-half inches narrower, the newspaper said in its Tuesday edition.
The company, which publishes the Boston Globe and International Herald Tribune in addition to its flagship paper, also reported that its earnings climbed 1% in the second quarter from a year earlier amid a charge related to previously announced job cuts. Overall revenue increased 1.6%, while revenue from the recently acquired About.com Web site continued to skyrocket, shooting up 63% from a year earlier.
The Times expects the changes it announced today to save the company $42 million a year. The company said it will consolidate all of its printing facilities in the New York metro area into its newest production facility in College Point, Queens, and sublease an older plant in Edison, N.J.
About 250 jobs, or one-third of its production staff, will be eliminated. Severance and other consolidation costs will result in charges, the Times said, but added that it hadn't yet determined the scope and timing of such charges.
The size reduction would mean a loss of 11% of the space devoted to news, but the newspaper plans to add pages to make up for about half of that loss.
"That's a number that I think we can live with quite comfortably," Executive Editor Bill Keller was quoted as saying. "The smaller news space would require tighter editing and putting some news in digest form." The article, noting that USA Today and the Washington Post have also reduced the size of their pages, pointed to rising newsprint costs and the loss of readers and ad dollars to the Internet.
(Excerpt) Read more at online.wsj.com ...
If they're saving money by reducing page size, why don't they save a lot more money by not printing anything at all?
ROFL!!
The NYT has been a tabloid for some time. Now the page size will match the reality. Maybe it can get some quality control help from the National Enquirer.
And I hope it becomes extinct in the very near future.
Their audience shrinks every day. I predict there will be more layoffs.
It's well on its way.
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