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End (New York) Times (Dinosaur Media DeathWatch™)
The Atlantic ^ | Jan/Feb 2009 | Michael Hirschorn

Posted on 01/06/2009 1:21:42 PM PST by abb

Virtually all the predictions about the death of old media have assumed a comfortingly long time frame for the end of print—the moment when, amid a panoply of flashing lights, press conferences, and elegiac reminiscences, the newspaper presses stop rolling and news goes entirely digital. Most of these scenarios assume a gradual crossing-over, almost like the migration of dunes, as behaviors change, paradigms shift, and the digital future heaves fully into view. The thinking goes that the existing brands—The New York Times, The Washington Post, The Wall Street Journal—will be the ones making that transition, challenged but still dominant as sources of original reporting.

But what if the old media dies much more quickly? What if a hurricane comes along and obliterates the dunes entirely? Specifically, what if TheNew York Times goes out of business—like, this May?

It’s certainly plausible. Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next five months or the paper will default on some $400million in debt. With more than $1billion in debt already on the books, only $46million in cash reserves as of October, and no clear way to tap into the capital markets (the company’s debt was recently reduced to junk status), the paper’s future doesn’t look good.

“As part of our analysis of our uses of cash, we are evaluating future financing arrangements,” the Times Company announced blandly in October, referring to the crunch it will face in May. “Based on the conversations we have had with lenders, we expect that we will be able to manage our debt and credit obligations as they mature.” This prompted Henry Blodget... to write: “‘We expect that we will be able to manage’? Translation: There’s a possibility that we won’t manage.”

snip

(Excerpt) Read more at theatlantic.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events; US: New York
KEYWORDS: advertising; dbm; deathwatch; newspapers; nytimes
It's the End of the World...
1 posted on 01/06/2009 1:21:46 PM PST by abb
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To: abb

2 posted on 01/06/2009 1:22:21 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


3 posted on 01/06/2009 1:22:47 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

blurb today says NYT is selling ads on the (once sacrosanct) front page.

Sounds kinda like pimping out...


4 posted on 01/06/2009 1:23:38 PM PST by bigbob
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To: abb
Regardless of what happens over the next few months, The Times is destined for significant and traumatic change. At some point soon—sooner than most of us think—the print edition, and with it The Times as we know it, will no longer exist.
5 posted on 01/06/2009 1:25:05 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Hey Pinch, you gay maggot, burn those cash assets like an arsonist on hire from Jersey


6 posted on 01/06/2009 1:26:03 PM PST by Grampa Dave (Does Zer0 have any friends, who are not criminals or foriegn or domestic terrorists or both?)
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To: abb

Directing your coverage at aging hippies while offending half of your potential subscriber base is no way to run a newspaper.


7 posted on 01/06/2009 1:26:13 PM PST by JennysCool (Internet Powerhouse)
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To: abb

The Lord works in mysterious ways.........


8 posted on 01/06/2009 1:26:18 PM PST by prismsinc (AIP works for ME!!!!)
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To: abb
But what if the old media dies much more quickly? What if a hurricane comes along and obliterates the dunes entirely? Specifically, what if TheNew York Times goes out of business—like, this May?


9 posted on 01/06/2009 1:26:52 PM PST by freedumb2003 (Der neuen Fuhrer: AKA the Murdering Messiah: Keep your powder dry, folks)
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To: abb
Just get Krugman on it. He's the all knowing financial wizard.

Can't wait until he's out of a job.

10 posted on 01/06/2009 1:27:56 PM PST by DB
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To: abb

Nationalization. Don’t say I didn’t warn you.


11 posted on 01/06/2009 1:29:15 PM PST by TheWasteLand
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To: abb
But what if the old media dies much more quickly? What if a hurricane comes along and obliterates the dunes entirely? Specifically, what if TheNew York Times goes out of business—like, this May?

It does not matter any more, as their holy mission to get Ubumbu The Magnificent elected was successful.

They can be thrown away now.

May is a lovely time for the "Journalists" to dine out, anyway.

The dumpsters are cool enough at night, and have not brought the flies yet.

12 posted on 01/06/2009 1:33:05 PM PST by Gorzaloon (Roark, Architect.)
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To: abb

Having flunked Journalism 101, Pinch Sulzberger has just enrolled in Accounting 101.


13 posted on 01/06/2009 1:34:29 PM PST by Malesherbes (Sauve Qui Peut)
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To: TheWasteLand
Nationalization. Don’t say I didn’t warn you.

No need. The Obamists already get coverage as good as it gets.

14 posted on 01/06/2009 1:35:55 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next five months or the paper will default on some $400million in debt. With more than $1billion in debt already on the books, only $46million in cash reserves as of October, and no clear way to tap into the capital markets

What idiot would willingly lend money to a company that is already $1 billion in debt, ready to default on a $400 million loan and only has $46 million in cash?

15 posted on 01/06/2009 1:36:46 PM PST by Go Gordon
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To: TheWasteLand
They need to nationalize their audience too. They owe me in advance if they expect me to read their dinomedia crap. They owe me more for premium services such as actually reading their crap instead of skimming it.
16 posted on 01/06/2009 1:38:06 PM PST by Milhous (Do unto others as you would have others do unto you.)
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To: abb
... there’s no online substitute for institutions that can marshal years of well-developed sourcing and reporting experience—not to mention the resources to, say, send journalists leapfrogging between Mumbai and Islamabad to decode the complexities of the India-Pakistan conflict.

Perhaps if they actually deployed their resources in that manner they would still have a modicum of credibility. Instead they send platoons of journalists to Alaska to dig up dirt on Palin. Meanwhile the anointed one, the appointed one, the messiah ... gets a free ride.

17 posted on 01/06/2009 1:40:23 PM PST by BluH2o
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To: abb

.......we are evaluating future financing arrangements.....

Since being shut out by the New York banks, feelers are out to Tel Aviv shy locks and the Embassy of Venezuela. Phone calls to Lehman Brothers were not returned.


18 posted on 01/06/2009 1:41:19 PM PST by bert (K.E. N.P. +12 . Save America......... put out lots of wafarin (it's working))
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To: Go Gordon

Pinch recently spent 50 mil to layoff hundreds of people leaving NYTCO with -4 mil of cash.


19 posted on 01/06/2009 1:42:07 PM PST by Milhous (Do unto others as you would have others do unto you.)
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To: abb
No need. The Obamists already get coverage as good as it gets.

Yes, but they need the NYT to survive, which, as your many posts attest to, it won't be able to on its own merits.

20 posted on 01/06/2009 1:42:18 PM PST by TheWasteLand
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To: Malesherbes
Excellent observation....and funny as all get-out.

Leni

21 posted on 01/06/2009 1:48:25 PM PST by MinuteGal
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To: abb

Tell me when the LA Times cease to exist


22 posted on 01/06/2009 1:49:13 PM PST by SevenofNine ("We are Freepers, all your media belong to us, resistence is futile")
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To: bert

http://gannettblog.blogspot.com/
Breaking: Is another big payroll cut in the works?


23 posted on 01/06/2009 1:50:51 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: bigbob

Maybe they can sell ads for X-ray specs, Whoopie Cushions, and Sea Monkeys on the front page.


24 posted on 01/06/2009 1:53:42 PM PST by Carl LaFong (Building Code Under Fire)
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To: abb

If the New York Times and Washington Post go out of business, how are the network news programs going to know what to report on? I guess they’ll just have to go directly to the Daily Kos for marching ordrs.


25 posted on 01/06/2009 1:53:50 PM PST by Question_Assumptions
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To: abb
The Times will be nationalized to function as the PR Dept. under the The 0ne’s Regime. It is a National Treasure and Too Big To Fail.
26 posted on 01/06/2009 1:57:44 PM PST by shove_it (and have a nice day)
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To: Milhous

http://dcrtv.com/

9 Cutting Weekend Morning News - 1/6 - UPDATED: DCRTV first reported on Monday that budget-slashing Gannett’s Channel 9/WUSA will be axing its low-rated weekend morning newscasts. Last one: 1/18. The replacement: Mainly revenue-generating infomercials. In a staff memo, WUSA President/General Manager Allan Horlick writes: “Effective January 24th, we have decided to utilize the Saturday and Sunday morning time periods where we have traditionally produced our weekend morning newscasts, as the launch pad for a variety of new initiatives which we will now be free to develop. Some of this content may be produced under the direction of our Information Center and some by other departments in the station... These time periods will be used to directly generate sales revenue through outside productions”.....


27 posted on 01/06/2009 2:02:11 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
But what if the old media dies much more quickly?

Please may it happen quickly, but with as much suffering as possible. I want everybody associated with those liberal, socialist, America-hating newsrooms to lose their jobs, their savings, their homes, and their families. The damage they have done to traditional American culture cannot be overstated.

Happy New Year!
LH

28 posted on 01/06/2009 2:03:51 PM PST by Lancey Howard
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To: abb
So the Slimes is a BILLION in debt and has only 46 Mil in cash.

What happened to living within a budget like the rag preaches the government (and we) should do?

The liberal Times management and the DemoRat crooks in Congress are interchangeable when it comes to economic smarts in running anything.

Disaster for each is inevitable and was foreordained when each started taking in each other's laundry over five decades ago.

Both entities are broke......financially and morally.

The Slimes is looking for an FDR in Barack Marx Obama.......and it ain't gonna happen.

Leni

29 posted on 01/06/2009 2:03:54 PM PST by MinuteGal
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To: abb

Pinch needs to close down while there is enough money left, either directly or through a sale, to sustain him in the style to which he has become accustomed.


30 posted on 01/06/2009 2:05:41 PM PST by RobinOfKingston (Democrats, the party of evil. Republicans, the party of stupid.)
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To: abb

http://www.newspaperdeathwatch.com/
Times Shatters Tradition with P.1 Ad


31 posted on 01/06/2009 2:08:56 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Grampa Dave
Hey Pinch, you gay maggot, burn those cash assets like an arsonist on hire from Jersey

That is awesome!

LOL!

32 posted on 01/06/2009 2:09:52 PM PST by andyandval
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To: abb
But what if the old media dies much more quickly? What if a hurricane comes along and obliterates the dunes entirely? Specifically, what if TheNew York Times goes out of business—like, this May?

Please, oh please.

33 posted on 01/06/2009 2:26:02 PM PST by TenthAmendmentChampion (Be prepared for tough times. FReepmail me to learn about our new survival thread!)
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To: abb
The first MSM dailies to move onto the internet were LA Times and Washington Post. Both papers paid well over $100,000,000 to set up their websites ~ and did so long before anyone had any practice with figuring out what kind of "format" you had to have on the net to attract users.

Having made that major (as yet unproductive) investment their legal beagles had a hissy fit the first time Free Republic and other websites began referencing them (so we could disuss, disect and criticize their news articles).

So the LA Times and the Post SUED.

Since then they've had a devil of a time getting anybody reputable with serious internet experience to run their on-line show for them.

They never will either, but they set the pattern for dealing with internet competition ~ sue first even before there's a market for your stuff, which is why I stay away from both websites. You can't trust those pukes. Eventually they will sue their readers, just the same as when they sued their only expositors. We gave them coverage they couldn't get on their own and they rejected it.

When they close down WarshPost headquarters I might buy a desk or something ~ as long as I can get Ben Bradley to sign it!

34 posted on 01/06/2009 2:35:05 PM PST by muawiyah
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To: muawiyah

You’ve touched on part of what I picked up in the Slate piece. The Drive-Bys always felt themselves arbiters of what was and wasn’t ‘news.’ They ‘commanded’ the story. Of course the internet allowed instant feedback, and they just couldn’t stand that. It would upend generations of inbreeding.

A species such as what the NYT and the WaPo have bred themselves into cannot ever be made useful. They merely need to be exterminated.

Metaphorically speaking, of course...


35 posted on 01/06/2009 4:06:36 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

What would Murdoch do with the Times if he buys after the TimesCo goes BK?

Would he strip the paper down to the bare bones operations so that the WSJ reigns supreme over New York or will he try to make the NYTimes paper profitable like he did with the Journal?


36 posted on 01/06/2009 4:07:18 PM PST by GOPGuide
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To: abb

http://mediamemo.allthingsd.com/20090106/forbes-layoffs-finally-arrive-19-fired-from-magazine-web/
Forbes Layoffs Finally Arrive: 19 Fired From Magazine, Web


37 posted on 01/06/2009 4:07:21 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: GOPGuide
or will he try to make the NYTimes paper profitable like he did with the Journal?

I'm not sure he's made the WSJ profitable. I've not seen any numbers broken out for them since he took them over.

38 posted on 01/06/2009 4:09:34 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

If the market for newspapers is shrinking in NY, then Murdoch may discretely run the NYTimes into the ground just to make sure there is no serious competition for the Journal.


39 posted on 01/06/2009 4:12:38 PM PST by GOPGuide
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To: GOPGuide

They’re doing just fine on their own. Rupert needs to do nothing to help, lol.


40 posted on 01/06/2009 4:14:07 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Funny, but Murdoch could instantly cease operations a few months after buying it. The Journal would then be King of the Mountain and have the lucrative and gigantic NYC market all to it’s self.

At least, that is what I would do if were the Big “M”.


41 posted on 01/06/2009 4:20:14 PM PST by GOPGuide
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To: abb
A gaggle of adjudicating nazi control freaking democrat lap dogging liberal progressive socialists if you ask me.

Independence From the Press Rocks the Gatekeeper's World

... the idea of the press as the great adjudicator has also been knocked down.

42 posted on 01/06/2009 4:54:29 PM PST by Milhous (Do unto others as you would have others do unto you.)
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To: Milhous

Myself, I think Ann Coulter’s attack style is the way we should deal with the Drive-Bys. I’ve believed that for 30 years.


43 posted on 01/06/2009 5:02:04 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: GOPGuide
If Rupert Murdoch does buy the New York Times, look at the way he runs the Times of London--that's how the New York Times will end up being like. At least we'll get the blatant cheerleading for the Democrats off the news articles, that's to be sure.
44 posted on 01/06/2009 7:06:39 PM PST by RayChuang88
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To: abb
It will also mean the end of a certain kind of quasi-bohemian urban existence for the thousands of smart middle-class writers, journalists, and public intellectuals who have, until now, lived semi-charmed kinds of lives of the mind.

The silver lining...

45 posted on 01/06/2009 7:18:38 PM PST by hinckley buzzard
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To: Go Gordon
What idiot would willingly lend money to a company that is already $1 billion in debt, ready to default on a $400 million loan and only has $46 million in cash?

Paulson.

46 posted on 01/06/2009 7:30:26 PM PST by razorback-bert (Save the planet...it is the only known one with beer!)
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To: abb
The New York Times made a very good business of selling their Smarter-Than-You, Upper West-Side, Hip, Informed brand to the yokels for decades. Unfortunately for them, today's consumer is not interested in such things, and just wants the news.

It is like they are trying to sell buggy whips after the advent of the automobile. They are just out-of-step with their customer base.

47 posted on 01/07/2009 6:22:23 AM PST by gridlock (QUESTION AUTHORITY)
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Comment #48 Removed by Moderator

Comment #49 Removed by Moderator

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