New York Times Bankruptcy?

[sylverfoxx]

If this were in fact true, it would be the best news to come out of this financial fiasco yet !

I`m sure it`s just a ploy for the greed mongers (Arthur Sultzberger & co.) to get their share of the handout money.

Tribune (Almost) Toast, New York Times Next?

 

[Lycurgus]

Well when you print bias political propaganda, you get your ass handed to you!

 

[Chris]

Well when you print bias political propaganda, you get your ass handed to you!

So FoxNews is going down?

 

[tigerbob]

If this were in fact true, it would be the best news to come out of this financial fiasco yet !

I`m sure it`s just a ploy for the greed mongers (Arthur Sultzberger & co.) to get their share of the handout money.

http://money.cnn.com/news/newsfeeds/...imes_next.html

Link's a dead end.

 

[tigerbob]

So FoxNews is going down?

No. They're primarily TV, not print.

 

[Gord]

Obama has promised to bail out the media industry. The NYT will not be allowed to fold.

 

[Chris]

Obama has promised to bail out the media industry. The NYT will not be allowed to fold.

Rupert Murdoch will buy them.

 

[sylverfoxx]

Link's a dead end.

Sorry
Try this link

Tribune (Almost) Toast, New York Times Next?

 

[tigerbob]

Sorry
Try this link

Tribune (Almost) Toast, New York Times Next?

Thanks. Seems like they have options.

 

[tigerbob]

Rupert Murdoch will buy them.

Quite possibly. I've met him a few times. Smart man, but OMG his daughter is the most arrogant, self-satisfied beetyatch in the world.

That was a few years ago to be fair. Maybe she's mellowed.

Could be she's just an uppity cow.

 

[DavidS]

Companies that expand too far, too fast are destined to crumble. As a business owner, this has always been my motto. Slow, steady growth is the right way for an economy and a business to grow. Too many people are excited by greed.

 

[BaronVonBigmeat]

Obama has promised to bail out the media industry. The NYT will not be allowed to fold.

Err, what? My gut instinct is that you're joking, but lately who knows.

They most definitely are bailing out one media giant, albeit indirectly. NBC is owned by General Electric, and GE's finance arm is getting bailout money. More than the proposals for the automakers, iirc. Don't look for anyone at NBC to bite the hand that feeds them for the next four years.

 

[editec]

ALL newpapers are going down.

You people are not aware of that?

I can assure you the newspaper industry is.

 

[WillowTree]

So FoxNews is going down?

no they are thriving,,

 

[DavidS]

no they are thriving,,

NewsCorp is below $10/share. That's pretty bad.

 

[bk1983]

no they are thriving,,

yeah sure..

NEW YORK (Reuters) - Rupert Murdoch's News Corp cut its full-year forecast and posted a worse-than-expected 30 percent drop in quarterly profit because of falling TV advertising. Shares dived 12 percent.

The international media conglomerate said display advertising at its Web holdings, including the MySpace social network, was beginning to weaken, and that it was instituting stringent cost-cutting measures company wide.

"We're managing down headcount wherever appropriate," Murdoch told analysts on a conference call, adding his company had a good handle on its costs and "we'll ratchet them down accordingly."

"The businesses across the board are challenged right now by weakening markets, and our group-wide results are further impacted by progressively weak foreign currencies when translating these to U.S. dollars," he said.

News Corp's assets include: the Fox TV network, 20th Century Fox movie studio, BSkyB and The Wall Street Journal.

Murdoch did not provide many details on the company's cost cutting, but said one example was the merging of back-office operations of his two high-profile New York holdings, The Wall Street Journal and tabloid daily the New York Post.

He also plans to close 10 of the 17 U.S. printing plants that produce the Journal. Still, he said, "We're not going to starve our businesses."

UPDATE 3-News Corp slashes outlook, profit dives | Markets | Bonds News | Reuters


Murdoch's stake in Newscorp also fell to $3 billion, down from $7 billion.

 

[Gord]

Err, what? My gut instinct is that you're joking, but lately who knows.

They most definitely are bailing out one media giant, albeit indirectly. NBC is owned by General Electric, and GE's finance arm is getting bailout money. More than the proposals for the automakers, iirc. Don't look for anyone at NBC to bite the hand that feeds them for the next four years.

No joke. He said it a couple of days before the election.

 

[Tech_Esq]

So FoxNews is going down?

Ask Hillary. When she was getting bum rushed by the lib media, the only fair treatment she got was from Fox.

Just remember, as bad as you think Fox is, that's how bad we on the other side see CBS, ABC, NBC, MSLSD and CNN.

 

[sealybobo]

ALL newpapers are going down.

You people are not aware of that?

I can assure you the newspaper industry is.

Did you see this?

This guy who bought the Tribune for 8.2 billion only put $315 million down and used ESOP (Employee Stock Ownership Plan) as collateral for the rest.

So 20,000 workers are going to lose their pension!!!!

Obama and the Democrats better right the wrongs that have occured over the last 8-30 years.

The worse the company does, the worse the debt burden for the employee stock ownership plan that Zell’s using to structure the deal. Even if the deal wins approval from shareholders and the government it must borrow $4.2 billion (in addition to the $7 billion it’s already borrowed to buy back shares for the first step of the transaction). And think about the premiums!
To many people, the math never worked from the beginning. Tribune’s revenues had been falling precipitously for years. Zell offered a generous $8.2 billion offer for Tribune to win against two other billionaires halfheartedly bidding for the company. From the beginning, his plan was that the price tag would be paid through the pensions of Tribune’s 20,000 workers, held in an employee stock ownership plan, or ESOP. The ESOP structure was designed to reduce Tribune’s taxes to nearly zero and it lowered Zell’s own price tag to $315 million. Unfortunately, it also left a $12 billion debt load to pay just as the newspaper industry as a whole is largely cratering on lower ad revenues. The principle — that the company could hoard its declining cash flows to pay down this enormous debt — was flawed. Cash flows declined, and tax savings couldn’t help.
Deal Journal - WSJ.com : The Tribune Buyout: Was It Ever a Good Idea?

 

[sealybobo]

no they are thriving,,

The reason they are thriving is because Fox News and everything else Rupert Murdoc owns are great for propoganda. Even if ratings are low, the oil companies and other corporations still advertise because these media's support the corporate agenda.

Rush Limbaugh's ratings are fudged. Just like the GOP uses fuzzy math to suggest the economy is strong or unemployment is low, so does Clearchannel and other right wing media's.

So even if Fox News or Rush Limbaugh lose money, it is worth it to keep them on the air so they can continue to spew their propoganda.

Time for the Fairness Doctrine to come back.

No Rupert Murdoc should not be able to buy up all the newspapers, tv news and radio news stations. It is doing our society an injustice.