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Profit Plunge at the New York Times (DOWN 82%!)
FOX Business ^ | 7/23/08

Posted on 07/23/2008 8:16:25 AM PDT by LdSentinal

The New York Times (NYT: 13.07, +0.21, +1.63%) fell as low as $12.38 this morning after its second quarter earnings missed estimates. Profits plunged 82% to $21 mn versus the $118 mn posted in the same period a year ago, a period that was helped along by the one-time sale of an asset.

The share plunge is the lowest since July 1995.

Print ads dollars at the Times continue to shrivel, sending operating income in a nosedive, as ad dollars continued their inexorable march toward the Internet. Hotels, automakers, airlines, all hurt by high energy prices, have pulled back sharply.

Meanwhile, in news on another front, New York City mayor Michael Bloomberg and Bill Gates, philanthropist and legendary co-founder of software giant Microsoft (MSFT: 26.53, +0.73, +2.82%) have announced they plan to hold a press conference at the TimesCenter, run by the New York Times, to make an announcement today. In the past, Gates through his foundation has given tens of millions of dollars to help fix New York City schools.

Now if only the Times was on the list of the philanthropist’s handouts, as ad dollars continue to plunge at the paper. The Times is hoping against hope that its mix of assets, including The Boston Globe, the International Herald Tribune, About.com, regional newspapers and a classical music radio station in New York can pull it out of its corkscrew dive south. Stay tuned.


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: 4thestate5thcolumn; biasmeanslayoffs; kewl; liberal; liberalmedia; media; morganstanley; nyt; trysellingthetruth
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They should have printed McCain's editorial.
1 posted on 07/23/2008 8:16:25 AM PDT by LdSentinal
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To: LdSentinal

Darn.


2 posted on 07/23/2008 8:17:19 AM PDT by Broker (Grandpa Petti Bones wants to know.)
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To: LdSentinal

Get a loan from our enemies you dirtbags..


3 posted on 07/23/2008 8:20:28 AM PDT by vietvet67
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To: LdSentinal

buh-bye, Pinch Loafberger!


4 posted on 07/23/2008 8:21:05 AM PDT by mdk1960
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To: LdSentinal
Perhaps McCain should submit an editorial describing the extent to which left wing bias is destroying the print media. That would be cogent and timely.
5 posted on 07/23/2008 8:22:06 AM PDT by Mad_Tom_Rackham ("The land of the Free...Because of the Brave")
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To: LdSentinal

Couldn’t happen to a nicer fishwrap newspaper....! HA!~HA!


6 posted on 07/23/2008 8:22:18 AM PDT by AngelesCrestHighway
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To: LdSentinal

ROTFLMAO ... schadenfreude. And the best part is these people still don’t have a clue “why” this is happening.


7 posted on 07/23/2008 8:22:58 AM PDT by mgc1122
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To: LdSentinal
Yes they should have, but the plunge in profits has to do with all their little BS schemes. They think they are sooooo clever, and that no one picks up on their BS. They have lost a lot of credibility. There is too much competition, and the crap they use to get away in the past is no more. Thus, you have a plunge in profits.

My bet is they will eventually dry up since they cannot admit what is really going on. The Internet is drying up our business crap is not working. They are like an alcoholic in complete denial. How pathetic.

8 posted on 07/23/2008 8:23:24 AM PDT by Sprite518
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To: LdSentinal

I had to laugh, the post below yours is the Rush Limbaugh Live thread....I could not help see who has the greater success


9 posted on 07/23/2008 8:23:26 AM PDT by Kimmers
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To: LdSentinal

To quote Governor Richardson, “Stop whining!”


10 posted on 07/23/2008 8:23:26 AM PDT by TommyDale (I) (Never forget the Republicans who voted for illegal immigrant amnesty in 2007!)
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To: LdSentinal

It’s time to Pinch this one off, and let it go.


11 posted on 07/23/2008 8:24:01 AM PDT by pallis
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To: LdSentinal
"...and a classical music radio station in New York can pull it out of its corkscrew dive south.

Wow the "old gray whore" is hoping to be bailed out by a classical music station...I've heard those are real cash cows.

12 posted on 07/23/2008 8:25:50 AM PDT by Positive (Nothing is sadder than to see a beautiful theory murdered by a gang of brutal facts.)
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To: LdSentinal

Yeah baby!


13 posted on 07/23/2008 8:26:14 AM PDT by Aquinasfan (When you find "Sola Scriptura" in the Bible, let me know)
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To: LdSentinal

Here`s one major reason why:

” The last HonestReporting long-term analysis of the New York Times was released in November of 2007. At the time, we found that there were several disturbing patterns in how the Times reported events in the Middle East. Our conclusion was that the treatment of Israeli and Palestinian actions was so different, that there could be no question that the reporting was favoring the Palestinians rather than remaining impartial. We highlighted specific cases where headlines dealing with Israeli or Palestinian actions were written in different styles. We also noted that the vast majority of images used by the Times appears reflectively sympathetic to the Palestinians while virtually ignoring the greater context surrounding the conflict.

We have now concluded a broader survey of the Times. Specifically, we looked at 205 articles between July of 2007 and June of 2008. Using this much larger time frame, we found that our original thesis has only been strengthened. Specifically, when reviewing headlines and photographs, it is clear that there is an inherent bias in New York Times reporting about the conflict that favors the Palestinians.

THE NEW YORK TIMES: JULY 2007-JUNE 2008- SUMMARY OF FINDINGS:

82 percent of headlines that introduced articles describing Israeli military operations were written in a direct style in which the words “Israel” or “Israeli Forces” (or a similar phrase) were the subject. In the majority of these cases, no details were given as to whether the casualties were combatants or civilians. An example of this type of headline ran in the Times on January 4, 2008: “Israeli Forces Kill 9 in Gaza.”

Only 20 percent of headlines that introduced articles describing Palestinian attacks named the group responsible. Most of these headlines were written in a passive, less direct style that removes responsibility of the attack from those who caused it. An example of this type of headline ran on May 13, 2008: “Rocket Fired from Gaza Kills Woman in Southern Israel.”

75 percent of the photographs that could be objectively determined as drawing sympathy for one side or the other in the conflict favored the Palestinians. Palestinian casualties of Israeli military operations and pictures of civilians dealing with shortages in Gaza dominated Times coverage during the time period studied.

http://www.frontpagemag.com/Articles/Read.aspx?GUID=FCEB5FB0-50CD-45FE-A68D-4C68572E1B1B

.
.


14 posted on 07/23/2008 8:26:18 AM PDT by Para-Ord.45
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To: LdSentinal
http://www.reuters.com/article/pressRelease/idUS226161+19-Jun-2008+BW20080619

The New York Times Company Declares Regular Quarterly Dividend Thu Jun 19, 2008 5:47pm EDT

NEW YORK--(Business Wire)-- The New York Times Company's Board of Directors today declared a regular quarterly dividend of $.23 per share on the Company's Class A and Class B common stock. The dividend is payable on September 15, 2008, to shareholders of record on September 2, 2008.

15 posted on 07/23/2008 8:26:58 AM PDT by DManA
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To: vietvet67

There might be still time to save the paper, if only they can turn more left fast enough.


16 posted on 07/23/2008 8:28:15 AM PDT by Gorzaloon
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To: LdSentinal

That this is happening in an election year, when they expect to make a lot of $$ from political ads, is devastating.


17 posted on 07/23/2008 8:28:45 AM PDT by reformedliberal (Capitalism is what happens when governments get out of the way.)
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To: LdSentinal

I’m sure they will get a donation from Al Qaeda since the Slimes is doing Al Qaeda’s bidding.


18 posted on 07/23/2008 8:31:00 AM PDT by CCGuy (USAF (Ret.))
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To: reformedliberal
That this is happening in an election year, when they expect to make a lot of $$ from political ads, is devastating.

Why would The Anointed One's campaign buy any ad space in the NYT? It would be preaching to the choir. Why would any Dem do so? The only people who can stomach the NYT's contents are going to vote D anyway.

19 posted on 07/23/2008 8:32:06 AM PDT by Gorzaloon
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To: Para-Ord.45

If the NY Times should ever close its doors, what will the networks do for news stories? Does ABC even have any actual reporters, or are they all news readers who simply reshuffle Times and AP articles? Oh wait...that’s right, the networks can just go to the DNC directly. NEver mind.


20 posted on 07/23/2008 8:35:22 AM PDT by Oldpuppymax (AGENDA OF THE LEFT EXPOSED)
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To: LdSentinal

Looking for a govment bailout.


21 posted on 07/23/2008 8:35:27 AM PDT by boomop1
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To: LdSentinal
Pinch lied, paper died.
22 posted on 07/23/2008 8:37:57 AM PDT by NewLand (NoBama except Alabama...)
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To: LdSentinal

You got me all excited with the 82% drop alert. That is, unfortunately, not true.


23 posted on 07/23/2008 8:38:17 AM PDT by definitelynotaliberal
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To: LdSentinal

Sorry, my mistake. I just kept reading from the 2nd paragraph down. Now, I am thrilled.

Forget McCain’s editorial. They ought to run another full-page Moveon.org Gen. Betray Us ad..

I posted an article from the NYT once. It featured pictures of young Afghan girls, some not even 12 yet, married to men in their 50s and 60s. Somebody went to the link and posted all the pictures, presumably so nobody would have to click on the NYT link. Somebody else chastised me for posting it at all. I responded that I never bought the paper. I can’t remember who it was, but I owe that person thanks for having explained to me that clicking on their link boosts their internet ad. revenues.


24 posted on 07/23/2008 8:43:13 AM PDT by definitelynotaliberal
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To: LdSentinal

So about.com is a NYT company, huh?

Well, that’s the end of that. Goodbye bookmarks.


25 posted on 07/23/2008 8:44:12 AM PDT by A_Former_Democrat
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To: reformedliberal

Maybe another Gen. Betray us ad. is coming down the pike. What do you think? Full page, again?


26 posted on 07/23/2008 8:45:27 AM PDT by definitelynotaliberal
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To: LdSentinal

they said the profits were low as compared to last year for the same quarter. but last year’s quarter included the sale of an asset. apples and oranges, imho. not that i want them to succeed, but it’s a silly comparison.


27 posted on 07/23/2008 8:46:25 AM PDT by thefactor (the innocent shall not suffer nor the guilty go free...)
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To: definitelynotaliberal

NEW YORK (AP) — The New York Times Co. will increase the Monday-Saturday newsstand cost of its flagship paper by 25 cents to $1.50, the publisher said Wednesday.

Times Chief Executive Janet Robinson said the price increase for the New York Times will take effect Aug. 18. The company has already raised home delivery prices for the paper 4.5 percent in two separate hikes since last July. That helped overall circulation revenue rise 2.5 percent in the latest quarter.

Who would pay a $1.50 for a paper copy if you can read it for free on the Internet?

My guess is most paid subscribers who pay the monthly rate of $55 a month, are billing it to their company or the taxpayers.

The move comes a week after The Wall Street Journal said it would boost its newsstand price by 50 cents to $2 starting July 28 to reflect both new content and higher costs.


28 posted on 07/23/2008 8:48:10 AM PDT by WilliamReading
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To: vietvet67
Get a loan from our enemies you dirtbags..

I'm sure the camel jockeys will step up with a bail out at any moment.

29 posted on 07/23/2008 8:49:48 AM PDT by dearolddad (Like $6.00 + gas? Be sure to thank a democrap.)
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To: LdSentinal

I couldn’t be happier.


30 posted on 07/23/2008 8:51:45 AM PDT by stanz (Those who don't believe in evolution should go jump off the flat edge of the Earth.)
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To: LdSentinal

It could not have happened to a nicer laydy.


31 posted on 07/23/2008 8:52:30 AM PDT by Ben Reyes (NYT: Obama Campaign HQ East)
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To: reformedliberal

While newspapers see a little increase in ad revenue in election years, it is mostly from local candidates and not National candidates.

The reason being, is twofold. One, they know that readership is down in a huge way, but more importantly, it has to do with top-of-mind awareness. TV and Radio can create much more repetition and name recall is extremely important to candidates when it comes time for voting by the hoi polloi.


32 posted on 07/23/2008 8:52:44 AM PDT by Jerry Attrick
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To: WilliamReading

For a while, they were requiring a fee from those who had an interest in their editorial pages. I used to read Tom Freidman and David Brooks. When they did that, I stopped. Then the buld went off about their ad revenues.

Every now and again, someone will post an excerpt that piques my curiosity. Now that MoDo has started to savage Obama, I am curious. I have (confession is good for the soul) read a couple of her columns about him. It’s a guilty pleasure. I won’t anymore once the election is over.


33 posted on 07/23/2008 8:53:49 AM PDT by definitelynotaliberal
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To: mdk1960

“buh-bye, Pinch Loafberger”

I am rooting for the NYT to go fully out of business before old Yankee Stadium is knocked down.


34 posted on 07/23/2008 8:54:52 AM PDT by AlphaOneAlpha
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To: LdSentinal
I guess someone found better things to wrap FISH, line kitty litter boxes and line the bottom of BIRD CAGES then the NY SLIMES.

NY TIMES - all the Obama news fit to print, hell, we will even let him write op-eds for us!!

best thing about the NY Times? Maybe the sports section.

35 posted on 07/23/2008 8:55:00 AM PDT by RightWingTeen (Caution: homeschooled teen with a Brain that works - LIBERALS you can't control me!!)
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To: LdSentinal

“I will bless those who bless you, and whoever curses you I will curse” -God


36 posted on 07/23/2008 8:55:24 AM PDT by VaBthang4 ("He Who Watches Over Israel Will Neither Slumber Nor Sleep")
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To: LdSentinal

Their classical music station is kind of snarky, but very much appreciated since NPR dropped the classics and a third classical station suddenly went over to rock some years ago.

Anyway, I’m glad I don’t make that commute any more.


37 posted on 07/23/2008 8:55:43 AM PDT by Cicero (Marcus Tullius)
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To: LdSentinal

What wonderful news! :-D


38 posted on 07/23/2008 8:56:24 AM PDT by Allegra (Ain't it grand? I'm back in the sand...)
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To: vietvet67

Maybe George Soros will bail them out!


39 posted on 07/23/2008 8:57:20 AM PDT by gimme1ibertee (Get rid of the horror that is Scary Reid & Bela Pelosi.)
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To: NewLand
Pinch lied, paper died.

Oooh, that's gonna leave a mark....

40 posted on 07/23/2008 8:57:35 AM PDT by thulldud (Congress does not want answers. They want scapegoats. (andy58-in-nh))
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To: LdSentinal

They’ve driven a great asset into the ground.


41 posted on 07/23/2008 9:00:26 AM PDT by I still care ("Remember... for it is the doom of men that they forget" - Merlin, from Excalibur)
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To: WilliamReading

The major source of revenue for newspapers is still advertising but, I guess when that source is drying up......well there you have it.

The interesting thing is that newspapers have been padding their circ numbers for YEARS and gouging advertisers. It is egregious.

Simply google “newspaper circulation scandal” and you will have plenty of information on all that has come down about this. Not only are they disgusting from a bias standpoint but more disgusting as unethical businesses.


42 posted on 07/23/2008 9:01:33 AM PDT by Jerry Attrick
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To: boomop1

A Democratic bailout.


43 posted on 07/23/2008 9:01:39 AM PDT by Dr. Ursus (( commander of the simian host))
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To: Oldpuppymax
If the NY Times should ever close its doors, what will the networks do for news stories?

They could just open up the Washington ComPost and read it on the air.

44 posted on 07/23/2008 9:08:29 AM PDT by KarlInOhio (Whale oil: the renewable biofuel for the 21st century.)
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To: Kimmers

You know, someone should tell Rush this is a great business opportunity here.

He would love this kind of stick it in your face publicity.

He could become a mega media mogul... Could you imagine the headlines? The libs would have a heart attack on camera.


45 posted on 07/23/2008 9:10:46 AM PDT by I still care ("Remember... for it is the doom of men that they forget" - Merlin, from Excalibur)
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To: LdSentinal

A surefire way for the NYTimes to get some of their readers back is to shun an opinion piece by McCain after running Obama’s opinion piece. They need to think about doing that. I think it will really help boost their circulation.


46 posted on 07/23/2008 9:13:12 AM PDT by smedley64 (UHbUHmUH- The incoherent candidate.)
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To: Sprite518

Is Soros going to buy the NYT just to make it an even worse propaganda machine?


47 posted on 07/23/2008 9:15:51 AM PDT by x_plus_one (let them eat cake, drive small electric cars and take the bus..........)
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To: dearolddad

I’m sure the camel jockeys will step up with a bail out at any moment....

They can rename it the “Camel Dung Daily”....


48 posted on 07/23/2008 9:18:16 AM PDT by AngelesCrestHighway
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To: x_plus_one
How would it be possible for them to become more of a propaganda machine?
49 posted on 07/23/2008 9:19:29 AM PDT by twntaipan (Dump the Drill-nothing Democrats: Lower fuel costs in the process!)
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To: LdSentinal

Can someone in the newspaper business help me out? I thought the number of pages which a newspaper printed was based on the number of ads in that issue. When the ad revenue was down, the newspaper compensated by printing fewer pages.


50 posted on 07/23/2008 9:23:11 AM PDT by Citizen Tom Paine (Swift as the wind; Calmly majestic as a forest; Steady as the mountains.)
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