Circling the drain - New York Times
People aren't advertising in the New York Times as much any more.
Forbes has an
artcle on the result of this:
New York Times Ad Decline Spurs S&P Warning
The New York Times Co.'s continued struggles with declining advertising revenue prompted Standard & Poor's to caution Friday that it is inching closer to cutting the company's debt ratings.
S&P said it placed all of the Times' ratings, including its key long-term corporate credit rating, on CreditWatch with negative implications. In plain English, that means the rating agency is leaning heavily toward a downgrade unless current financial trends at the company improve.
S&P currently assigns the Times a long-term corporate credit rating of BBB. A one-notch downgrade would bring the rating down to BBB-. But in a research note Friday, S&P credit analyst Emile Courtney warned that a possible downgrade "may not be limited to one notch."
That would drop the Times' long-term rating to BB+ or worse, which would leave it at sub-investment grade, or junk. And that, in turn, could increase borrowing costs for the Times.
Let's see:
Evident bias to the left? Check.
Reporters fabricate stories? Check.
Reprinting bogus stories from other sources without fact checking? Check.
Ignoring stories that aren't in line with its bias? Check.
Hell of a way to run a newspaper...
Posted by DaveH at March 3, 2008 3:22 PM