The New York Times unleashed a slew of bad news earlier: ad revenue continues to plummet, the print business is in permanent decline, and the company is running on fumes. As a result, the Board is going to evaluate the company's dividend payout.
And well they should: the dividend costs the company $132 million of precious cash annually. However, that money is likely much of what is protecting the paper from being sold, as the increasingly extended (and fractured) Ochs-Sulzberger clan lives off the juicy dividend. From a recent New York magazine article: