The New York Times (NYT) became the second to last major newspaper to run a front page display ad today.
An ad for CBS, it's 2.5 inches high and runs across the bottom of the page.
The Wall Street Journal, USA Today and The Los Angeles Times all already run front page ads.
The Washington Post does not, but as MediaMemo points out, it's owned by a healthy education company, not a media company clinging to life.
The New York Times is, and its hurting. It's already taking steps to sell its building and its stake in the Boston Red Sox.
Reports -- who else? -- the Times, on the move's significance:
In the past, The Times has printed an occasional front-page classified ad — two or three lines of text at the bottom of the page. And a few years ago it began selling display ads — which are much larger and can combine images and text — on the front pages of sections inside the paper.
But The Times did not sell displays on the first page of the first section, a move regarded by traditionalists as a commercial incursion into the most important news space in the paper.
The Times didn't disclose the front page rate, but we'd like to report it. If you know it, hit us up at tips@alleyinsider.com or 646-747-1539.
See Also:
New York Times (NYT): Bend Over Shareholders, Here Comes The Dilution
