The New York Times is taking a double punch by both this troubled economy and the continuing withering of the old media. Their net profit fell by 51.4 percent in the third quarter to 6.5 million dollars — profit from print advertising is down 18.5 percent while up a weak 2.5 in online ads. Their debt was downgraded to ‘junk’ status by Standard and Poors.
As with many in the old media, they continue their struggle to find the way forward in this new environment.
