Posted on 12/22/2008 7:42:23 PM PST by GOPGuide
From 24/7 Wall St - based upon background and financials, ten major companies predicted to go away in 2009. Number 6 on the list? The New York Times. h/t An email from Pundita:
24/7 Wall St. looked at some of the largest and most well-known companies, reviewed their SEC filings if they are public, analyst reports, and media observations about their businesses and picked ten that probably wont be around at the end of next year.
6) 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 firms 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 wont matter much when the company runs out of money. Another big media operation, perhaps News Corp (NWS) which owns The Wall Street Journal and The New York Post, will come in and auction off what it can and keep the flagship New York Times newspaper and NYTimes.com website.
Murdochs obsessed with The New York Times, especially since current publisher Arthur Sulzberger Jr., whom he regards as a New Age lightweight took over control in the early 90s. Wolff writes: Murdoch has been watching the Times strange behavior and spastic reactions with as much interest and appetite as he has for anything in the media business. The Times is his favorite train wreckas well as, perhaps, his ultimate opportunity.
With a new influx of Kennedy cash from Pinch’s new GF, Frau Schlossberg, the New york Times-Obama will be viable for years to come.
We can only hope, but don’t be surprised if the DNC forces a bail-out of its propaganda arm.
If Murdoch buys the Times, would he run it into the ground so that the WSJ is last man standing in New York City or would he try and improve the business model?
Hey Abb get in here
Speaking of NY Liars I was reading my AOL Business news they mention that they see NY Liars going out of business in mid 2009
Huh? What “Kennedy cash”? Do you have a link for that? Besides, even if true, it will take far more than some Kennedy millions to shore up the times. The NY Times is on the cusp of a General Motors-esque collapse.
He’d turn it around if for no other reason than to embarrass the Sulzbergers.
...assuming it’s even possible to embarrass that gang.
It’s extraordinary that Pinch is still running the Times after he’s kept his losing streak going for so long. Kooks like Frank Rich and Paul Krugman have driven away countless subscribers, but Pinch keeps paying them fat paychecks while cutting pensions for the loyal lower ranking Timespeople. An all out rebellion is inevitable.
I wonder if Murdoch has any particular value system or significant abdication of moral values we need to worry about. No point in cheering the demise of the former gray lady if we’re only going to get a some greying cindereddie or something.
DLTD HYITA OTWO....
(Dont Let The Door.. Hit You.... etc.. etc..)
“An all out rebellion is inevitable.”
There will be no rebellion because Pinchy is going to crash this plane into the ground.
The only question is what Murdoch will do with what remains of the NYTimes.
Rush should just buy the NY Slimes...the most perfect revenge on the RATS!
NY Times, Owner, Publisher and Editor in Chief, Rush H. Limbaugh III.
Talk about driving the RATS nuts!
A FR link a few days ago, wish I had marked it - saying that Pinch is now trying to hook up with Frau Schlossberg, and “Kennedy Cash” referred to all the future revenue that will come their way, once the Leftist Elite started funnelling tax $$$ their way.
I swear, if I had the money I would buy the Times, fire everyone who works there and then sell the fing building under Chapter 7 bankruptcy.
Far as I'm concerned, Murdoch has run the WSJ into the ground. I loved that paper until he took over. I no longer subscribe -- too leftwing.
Link to the article that lists the reast of the 10 co.’s:
http://www.247wallst.com/2008/12/companies-that.html
One can only hope!
bump to change tagline.
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