Wednesday, January 28, 2009

New York Times To Cease Providing Monthly Revenue Updates

In a quest to "improve" transparency into its business, the New York Times will cease providing monthly sales updates beginning this month, and only give clarity on a quarterly basis said the CEO on a phone call this morning... Next quarter we assume this practice will be adjusted to providing any sorts of updates to once a decade.

Also, in much more troubling news, NYT announced its pension is currently underfunded by $625 million. We hope Andrew Ross Sorkin has been saving up. The silver lining, Capex will drop in 2009... I guess the plan for another exoskeletal skyscraping monstrosity on top of Port Authority will be put in hold for now.
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Anonymous said...

Well, I guess no news is better than bad news.