Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. HOMEPAGE

New York Times (NYT) October Ghastly

Titanic.jpgThe New York Times (NYT) cash crisis certainly didn't improve in October:

  • Ad revenue dropped 16% year over year, worse than September and one of the worst months to date (August was -18%).
  • Online revenue in the news business grew only 5%, a major deceleration
  • Circulation revenue increased 4%, thanks to a price increase
  • Overall revenue down 9%
  • About.com revenue decelerated massively, growing even less than in the news business: +3%. This is shocking. It's especially bad news because About.com was one of the bright spots at the NYT.

The New York Times finally cut its dividend yesterday, which was a step in the right direction. It won't be enough, however. The company faces a major cash crunch, with $400 million due in May. It needs to sell assets and make major cost cuts. Preferably soon, before it's too late.

See Also:
Cash Crunch At New York Times: $400 Million Due In May
NYT Cash Crunch II: Negative Net Worth
How To Save The New York Times

Advertisement
Media
Advertisement
Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Jump to

  1. Main content
  2. Search
  3. Account