Article on the NY Times: Its Financial State, Its Future, and the Role of Journalism
In an interesting article by Michael Hirschorn entitled End Times, he wonders a bit about the New York Times’ current financial state, and projects a bit on the transitional issues the print industry has, in an increasingly digital age.
The article opens with a zinger of a question: What if the New 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.
A lot of interesting concepts are kicked around – the future role of journalists and journalism, viable strategies for the print industry… lots of interesting stuff. [via MeFi]
I’m only mentioning this because this grammar point has been bugging me lately: your It’s es should be Its es. Not a contraction, but possessive.
juliet (January 8, 2009 at 11:05 pm)WOW, I can’t believe I did that. I know I’m prone to typos on here, but that’s a pretty bad one. And I totally should know better. Title has been updated.I’m definitely glad you pointed it out. I definitely know the difference between the contraction and the possessive, so its just sloppiness on my part.
avoision (January 9, 2009 at 7:31 am)Totally messing with you, on that last typo above. :P
avoision (January 9, 2009 at 7:31 am)