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NY Times in trouble: advertising down 16%, may struggle to service debt
The Inquisitr ^ | October 24, 2008 | Henry Blogdet

Posted on 10/24/2008 12:56:29 AM PDT by 2ndDivisionVet

The New York Times released their 3rd quarter results today, adding to the doom and gloom in the newspaper market with declining advertising and debt issues.

The company reported 3rd quarter net income of $6.5 million, compared to $13.4 million for the same period last year.

Advertising declined 16% in the quarter after reporting an 11% fall for the first half of the year. Print advertising took the biggest hit with an 18.3% fall for the quarter, with classified advertising down 28%. Online advertising was up 10.2% off an increase of 16% at about.com, but the online gains were not enough to offset the decline in print, with online advertising making up 12.4% of advertising revenue for the company, but up from 10.6% for the same time last year.

The bright news is that the decline in advertising slowed in September, hitting 14.1% for the month vs 15.9% August and nearly 18% in July.

The NY Times’ exposure to debt may cause serious issues for the company, with Moody’s Investor Service placing the company on review, the first step towards a downgrade of NY Times’ debt status to what the WSJ referred to as “junk territory.” The company confirmed issues with servicing their existing debt of $1.1 billion with only $46 million cash at hand.


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events; Politics/Elections; US: New York
KEYWORDS: antiamericanleft; dinosaurmedia; drivebymedia; leftwingconspiracy; media; msm; newspapers; newyorktimes; nytimes; propagandawingofdnc
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I love a happy, human-interest story, don't you?
1 posted on 10/24/2008 12:56:29 AM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

wonder what their debt coverage as a percentage of pre debt net income is?

my bank require 20% or better


2 posted on 10/24/2008 12:58:54 AM PDT by wardaddy (McCain is hanging by his own campaign finance reform petard as we speak)
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To: 2ndDivisionVet

I hope this rag crashes and burns!


3 posted on 10/24/2008 12:59:16 AM PDT by teletech (Friends don't let friends vote DemocRAT)
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To: wardaddy

I’d love to see their banks call the notes...LOL


4 posted on 10/24/2008 12:59:37 AM PDT by 2ndDivisionVet (Barack Obama: In Error and arrogant -- he's errogant!)
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To: 2ndDivisionVet
Sure do.


5 posted on 10/24/2008 12:59:57 AM PDT by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: 2ndDivisionVet

You know what’ll bring their readership back up? More alleged McCain affair stories. Also, some Cindy McCain drug rehash exposes would probably be helpful.

And nothing will bring readers back like McCain-Illuminati/Daughter not from Bangladesh actually child of black prostitute stories.


6 posted on 10/24/2008 1:00:30 AM PDT by exist
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To: 2ndDivisionVet
BWAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAA!

{deep breath...}

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAAA!!!

7 posted on 10/24/2008 1:01:31 AM PDT by Allegra (NO giving up, NO quitting, NO doom and gloom, NO drama queens...Keep up the faith)
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To: Allegra

Eeyuh...

Makes me glad your on our side...

(Turns collar up)


8 posted on 10/24/2008 1:06:36 AM PDT by Fichori (I believe in a Woman's right to choose, even if she hasn't been born yet.)
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To: 2ndDivisionVet

No doubt vet. The socialsis are not too good at turning a profit are they. They seem to measure success by who loses the least. Kind of like the casino gamblers who like blackjack because “my money lasts longer”.


9 posted on 10/24/2008 1:06:47 AM PDT by screaminsunshine
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To: 2ndDivisionVet
The New York Times is gasping it's last breath.  Adios you filthy rag.

So sorry you won't be here to propagandize the presidential race in 2012.


    Out of the myst they came, the Final 300 FReepers
    of this quarter's FReepathon.
 
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    goal.  I'm going to donate $10.00 right now.
 
    Would 299 more of you like to join me?
 
    Let's end this FReepathon today.
  
    Click graphic to donate or visit the Final 300 thread.

10 posted on 10/24/2008 1:10:51 AM PDT by DoughtyOne (Is Obamanation what our founding fathers, our fallen men in combat, and Ronald Reagan had in mind?)
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To: 2ndDivisionVet

Like retail the papers make their money in the Christmas season. If it gores down the tubes, as expected, so does the Times.


11 posted on 10/24/2008 1:11:55 AM PDT by Lucius Cornelius Sulla (White Trash for Sarah!)
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To: buckrodgers

ping


12 posted on 10/24/2008 1:12:06 AM PDT by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: 2ndDivisionVet

Schadenfreude!


13 posted on 10/24/2008 1:14:30 AM PDT by StAnDeliver (Schadenfreude!)
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To: screaminsunshine

Really? I only play slots that have a secondary game with a possible high jackpot (Elvis, etc.) when I’m somewhere with a casino.


14 posted on 10/24/2008 1:16:40 AM PDT by 2ndDivisionVet (Barack Obama: In Error and arrogant -- he's errogant!)
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To: 2ndDivisionVet
Circulation!! No mention of decline in circulation.

yitbos

15 posted on 10/24/2008 1:19:01 AM PDT by bruinbirdman (GET OUT THE VOTE !!!!)
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To: 2ndDivisionVet

The NYT is so vulnerable. Now is the time for payback for all their bias. We could take them out permanently by boycotting their advertisers. Make demands on the NYT to end the bias and hire equal number of conservative journalist.


16 posted on 10/24/2008 1:21:30 AM PDT by avant_garde
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To: exist
nothing can beat their fashion lectures to Sarah Palin....

did a horrible death NYT..........

17 posted on 10/24/2008 1:22:27 AM PDT by cherry (Lord, help us.......)
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To: 2ndDivisionVet

Yep I know a guy who actually said it.


18 posted on 10/24/2008 1:30:33 AM PDT by screaminsunshine
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To: 2ndDivisionVet

Great news BUMP!

Why won’t the NY Times just hurry up and die?
That pack of sick scumbags has done enough damage to my country, thank you.

C’mon NY Times.
Die.


19 posted on 10/24/2008 1:31:54 AM PDT by Lancey Howard
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To: exist

Not to forget the news breaking front page coverage of the Palin wardrobe scandal. That is most certainly ‘News that’s fit to print’. /s


20 posted on 10/24/2008 1:35:47 AM PDT by TCats
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To: 2ndDivisionVet

Hey, they denigrate more than half of the population in this Country. They encourage murdering babies. They support releasing convicted murderers. They are 100% behind any and every anti-American movement I have ever heard of.

Oh yeah, that’s a brilliant business model. A real value proposition.


21 posted on 10/24/2008 1:40:05 AM PDT by papasmurf (I ain't your Daddy's Conservative, OK?)
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To: 2ndDivisionVet

I know a sure-fire way to get their ad revenues back up and save themselves... They might try enforcing even just the most basic journalistic ethics, or at least be honest and say they are a liberal-biased newspaper instead of pretending they’re unbiased.


22 posted on 10/24/2008 1:45:52 AM PDT by LibertyRocks ( http://LibertyRocks.wordpress.com ~ Pro-Palin & NObama Gear : http://cafepress.com/NO_ObamaBiden08)
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To: Allegra
New York Times?

What is the New York Times?

Is it like Medieval Times? Can you get a good burger there?

23 posted on 10/24/2008 1:47:17 AM PDT by ME-262 (Stick it to the Man! - Demand term limits now!)
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To: exist

it’s more fundamental than that. I mean, look at the NY Sun.
Newspapers are simply obsolete in the internet era.


24 posted on 10/24/2008 1:51:12 AM PDT by ari-freedom (Obama: If we are going into war, then all of us go, not just some.)
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To: 2ndDivisionVet

The further down they go, the more vicious they get. They’re like a cornered animal.


25 posted on 10/24/2008 1:51:25 AM PDT by PressurePoint
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To: 2ndDivisionVet

More news on the same subject: The Tribune Co. is in the same boat as the NY Times. Debt fianacing to maintain
operations.


26 posted on 10/24/2008 1:51:37 AM PDT by ChiMark
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To: 2ndDivisionVet
They need to bring in some help from The Weekly World News. The reporting would still be half-*ssed. But at least it would be entertaining.
27 posted on 10/24/2008 1:58:35 AM PDT by PressurePoint
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To: PressurePoint

I miss the Weekly World News....my dream was to get a job as a writer there....it was like the adult version of Mad Magazine!

After the NYT’s coverage of Abu Ghrab, I feel that justice is creeping upon them.


28 posted on 10/24/2008 2:09:09 AM PDT by Loud Mime (How would you feel if your parents controlled your life? The same with government?)
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To: Loud Mime

Just wait for the NYT to go to pelosi an reid for a bailout because the NYT is “too historic to fail”


29 posted on 10/24/2008 2:14:14 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: 2ndDivisionVet

You have to wonder at the galactic stupidity of those who run the Slimes. Their business is obviously failing and yet they willfully alienate a HUGE part of their potential customer base because of their bias. The same can be said about the declining fortunes of the networks and the other liberal rags.

Isn’t the definition of insanity doing the same thing over and over again while expecting a different result each time?


30 posted on 10/24/2008 2:20:16 AM PDT by 101voodoo
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To: PressurePoint

The New York “Badger” Times.


31 posted on 10/24/2008 2:20:52 AM PDT by LiveFreeOrDie2001 (It's not Obama, it's O-bey-me !!!)
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To: 2ndDivisionVet

Don’t worry, Obama will see that Federal money bails this very necessary Socialist/Marxist voice out of trouble. It will become the official Obama information and accomplishment agency for his newly “changed” America.


32 posted on 10/24/2008 2:22:19 AM PDT by PSYCHO-FREEP (Sara Palin; The Orca in a bay of Democrat Belugas!)
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To: screaminsunshine
"Kind of like the casino gamblers who like blackjack because “my money lasts longer”.

LOL, that would be me. At least I'm smart enough to bring with me only what I can afford to lose and disciplined enough to walk away when I lose it.

33 posted on 10/24/2008 2:22:54 AM PDT by 101voodoo
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To: 2ndDivisionVet

That’s what happens when Commies attempt to run a capitalist operation.

Guaranteed failure - good riddens, lousy leftist parasites.


34 posted on 10/24/2008 2:32:40 AM PDT by Boucheau
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To: 2ndDivisionVet

It’s time to convert the New York Times building to “spread the wealth around.” Give the building a worthwhile purpose. Make it a homeless shelter for our less fortunate communist comrades.


35 posted on 10/24/2008 2:34:11 AM PDT by NoControllingLegalAuthority
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To: avant_garde

I like the way you think. Go for the jugular and don’t let up! This rag needs to die a slow and painful death. A boycott of their advertisers right now would be beyond perfect.


36 posted on 10/24/2008 3:51:45 AM PDT by RU88 (The false messiah can not change water into wine any more than he can get unity from diversity.)
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To: 2ndDivisionVet

Not to worry. Presidentissimo Obama will issue a bailout for the NYT on the first day of his regime.


37 posted on 10/24/2008 3:54:49 AM PDT by Fresh Wind (10 years on Free Republic. Yikes!)
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To: 2ndDivisionVet

NYT ,,,,,, chickens comin’ home to roost . . .


38 posted on 10/24/2008 4:04:45 AM PDT by lionheart 247365 ((Socialism . . . a catalyst for apathy on the road to communism ))
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I can’t wait until the Fairness Doctrine comes along! The NY Times will be balanced then!


39 posted on 10/24/2008 4:08:21 AM PDT by NeoConfederate
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To: 2ndDivisionVet

Maybe the commies can help, only fair. tit for tat.


40 posted on 10/24/2008 4:12:01 AM PDT by Waco ( G00d bye 0'bomber)
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To: 101voodoo
You have to wonder at the galactic stupidity of those who run the Slimes. Their business is obviously failing and yet they willfully alienate a HUGE part of their potential customer base because of their bias. The same can be said about the declining fortunes of the networks and the other liberal rags.

I don't feel a bit of sympathy for the lying b@$t@rds at the NYT, but they are in a unique situation in that not only do we hate them because they're a bunch of liberal propaganda meisters, liberals hate them because they think the NYT is too "conservative". Believe it or not - I've heard them howling about how the NYT is too easy on the Bush administration and is too much in their camp.

41 posted on 10/24/2008 4:13:22 AM PDT by Hardastarboard (0bama's past associations need a good "Ayering out".)
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To: 2ndDivisionVet
ROFLMAO! Bwahahahahahhaha!
42 posted on 10/24/2008 4:19:10 AM PDT by Heartland Mom (Those who would give up liberty for temporary safety deserve neither liberty nor safety. - Franklin)
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To: 2ndDivisionVet
NY Times in trouble

Aren't they the company with the business model of printing out left-wing web pages and trying to charge you to deliver them to your house? Good luck with that...

43 posted on 10/24/2008 4:23:09 AM PDT by Onelifetogive (Is it too early to open a female wing on Mt. Rushmore?)
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To: 2ndDivisionVet

think how much better and happier the NYT’s business will be when their messiah is elected and the “hateful” right wing media is silenced (sarc)

seriously, why would any advertiser PAY for ad space in any lib media? now ... or later?


44 posted on 10/24/2008 4:23:51 AM PDT by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
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To: 2ndDivisionVet

Looking forward to seeing a “CLOSED” sign on their front door.


45 posted on 10/24/2008 4:28:57 AM PDT by From The Deer Stand
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To: 2ndDivisionVet

Some storied just make me feel all tingly all over.


46 posted on 10/24/2008 4:34:55 AM PDT by Joe Boucher (An enemy of Islam)
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To: 2ndDivisionVet

I so hope they fail. That rag will only be missed by fish markets and liberals...all things slimy.


47 posted on 10/24/2008 4:36:20 AM PDT by comps4spice (Democrats caused the current financial mess. Do we really want to give them the Oval Office?)
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To: 2ndDivisionVet

LETS....BUY.....IT...!!!!!!!!!!!!


48 posted on 10/24/2008 4:55:38 AM PDT by Humble Servant
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To: 2ndDivisionVet

They could always survive by turning into a gaming mag.


49 posted on 10/24/2008 5:29:37 AM PDT by ClaudiusI
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To: ClaudiusI

Nah, then they’d be biased Sony fanboys.


50 posted on 10/24/2008 5:34:51 AM PDT by Kaylee Frye (everything's shiny)
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