Post courtesy of Corey Ryan
The Atlantic - 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. http://www.theatlantic.com/doc/200901/new-york-times
- The Big Fix - How Will The Economy Grow?
- Senators Bid to Regulate Hedge Funds
- Obama Calls Wall Street Bonuses ‘Shameful’
- At Starbucks, A Tall Order For New Cuts,Store Clos...
- Chinese Premier Blames Recession on U.S. Actions
- House Passes Stimulus Plan Despite G.O.P. Oppositi...
- Fed Signals It’s Ready to Expand Assistance as Nee...
- Reynolds Scholarship for Business Writing
- Thain Fires Back at Bank of America
- Central Banks Are Creatures of Financial Crises
- Price Cuts Spur Home Sales
- McDonald's to Expand, Posting Strong Results
- Delta Airlines Faces Big Loss
- 62,000 Jobs Are Cut by U.S. and Foreign Companies
- Starbucks CEO, Top Officials Didn't Get Bonuses fo...
- Brokerage Chief Sold $13 Million Mansion to Wife f...
- Security Video Captures Jet's Hudson River Landing...
- Nationalization of Banks Gets A Serious Look
- Freight Rates Plunge as Huge Carriers Sail
- Manufacturing Bubble Bursts in Japan
- Lending at Top Banks Drops Despite Federal Cash
- G.E. Meets Expectations for Fourth Quarter, but Qu...
- Once a Boon, Euro Now Burdens Some Nations
- UK Economy Falls Into A Recession
- The End of Wall Street - WSJ
- Recession's Future Path
- MSNBC Wants to Add a 3rd Prime-Time Show
- Falling Pound Raises Fears of Stagnation
- Three Death Sentences in Chinese Milk Scandal
- Bank Shares Plunge on Nationalization Fears
- Pound Falls Against The Dollar
- A Kinder Bankruptcy Law Is Sought as Filings Soar
- It's Bad, But 1982 Was Worse
- Rates: When Zero Is Way Too High
- Hard Times Brings Boom in Personal Finance Books
- Will Fox News Swing Left With Obama in Office?
- Companies under Pressure as Debts Come Due
- More Americans Join Military As Jobs Dwindle
- F.B.I. and S.E.C. Probe Missing Fund Manager
- Editors and Publishers in a Revolving Door
- Billionaire Seeks Deal in Times Co.
- Minneapolis Star-Tribune files for bankruptcy
- Outlook Grim for Automakers
- A flock of mansions hit the market at bargain pric...
- Economy Brings Out the Worst - Swindlers
- Financial Giant Citigroup going to bust itself up
- In Rare Move, Microsoft is Exploring Job Cuts
- Bank of America Gets Billions in U.S. Aid
- Apple's Jobs Takes Medical Leave
- Newspapers Move to Outsource Foreign Coverage
- Slumdog copy editors
- The New Journalism: Goosing the Gray Lady
- Can The New York Times survive the death of newspr...
- Seattle Post-Intelligencer Faces Closure if Buyer ...
- Let's Invent an iTunes for News
- Detroit Is Facing a Scary New Normality
- Wave of Retail Bankruptcy Filings Expected
- Surge In Trade Protection Threatens to Deepen Glob...
- Obama Team Wants To Tap TARP for Foreclosures
- Chinese Drywall Cited in Building Woes
- On Front Lines of Debt Crisis, Luggage Maker Fight...
- Jobless Rate Makes Case For Stimulus
- Jobless Rate Surges to 17 Year High
- Big Slide in 401(k)s Spurs Calls for Change
- Test for Dwindling Retail Jobs Spawns a Culture of...
- The House From Hell - Worth? $103,000
- Apple Drops Copyright Protection on Songs
- Fed Fears Long, Deep Recession
- Facing Losses, Billionaire Takes His Own Life
- Big Madoff Investor Found Dead
- Drop in Inflation Lifts Europe Stocks
- Apple’s Jobs Explains His Weight Loss
- Obama Seeks Wide Support in Congress for Stimulus
- Debt Trap: College Borrowing Sinks Students
- Is Next Great Depression Already Underway?
- Obama Eyes $300 Billion Tax Cut
- ▼ January (76)
- ► 2008 (45)