Get our Best Book Club Books of 2025 eBook!

End times for the New York Times?

BookBrowse News - The Full Story

End times for the New York Times?

Jan 07 2009

Michael Hirschorn, writing for The Atlantic, reports on the dire circumstances facing The New York Times, or at least its print edition. The article opines that recent earnings reports indicate that, unless drastic steps are taken, it's possible that the paper will default on its $400 million debt in about five months. The paper, with more than $1billion in debt on its books and cash reserves of about $46 million, is currently trading at junk status on the capital markets.

The paper’s credit crisis comes against a backdrop of ongoing and accelerating drops in circulation, massive cutbacks in advertising revenue, and the worst economic climate in almost 80 years.

It is considered unlikely that The Times would cease to exist altogether but that it is possible that The Times and other newspapers will have to move to digital-only distribution (perhaps preserving the more profitable Sunday editions). Already, most readers of The Times are consuming it online. The Web site, nytimes.com, boasted 20 million unique users for the month of October, making it the fifth-ranked news site on the Internet in terms of total visitors.

The conundrum is that those 1 million print readers, who pay actual cash money for the privilege of consuming the paper, and who are worth about five figures a page to advertisers, are far more profitable than the 20 million unique Web users, who don’t and aren’t.

Source: The Atlantic

More News Stories

BookBrowse Book Club

Book Jacket
The River Knows Your Name
by Kelly Mustian
A haunting Southern novel about memory and love, from the author of The Girls in the Stilt House.
Book Jacket
The Mysterious Bakery on Rue de Paris
by Evie Woods
From the million-copy bestselling author of The Lost Bookshop.
Book Jacket
The Devil Finds Work
by James Baldwin
A book-length essay on racism in American films, by "the best essayist in this country" (The New York Times Book Review).

Members Recommend

  • Book Jacket

    The Seven O'Clock Club
    by Amelia Ireland

    Four strangers join an experimental treatment to heal broken hearts in Amelia Ireland's heartfelt debut novel.

  • Book Jacket

    Happy Land
    by Dolen Perkins-Valdez

    From the New York Times bestselling author, a novel about a family's secret ties to a vanished American Kingdom.

  • Book Jacket

    The Fairbanks Four
    by Brian Patrick O’Donoghue

    One murder, four guilty convictions, and a community determined to find justice.

  • Book Jacket

    One Death at a Time
    by Abbi Waxman

    A cranky ex-actress and her Gen Z sobriety sponsor team up to solve a murder that could send her back to prison in this dazzling mystery.

Who Said...

Discovery consists of seeing what everybody has seen and thinking what nobody has thought.

Click Here to find out who said this, as well as discovering other famous literary quotes!

Wordplay

Solve this clue:

A C on H S

and be entered to win..

Your guide toexceptional          books

BookBrowse seeks out and recommends the best in contemporary fiction and nonfiction—books that not only engage and entertain but also deepen our understanding of ourselves and the world around us.