New York Times Company Slashes Dividend

This ought to please those credit-ratings agencies that have been threatening to reduce The New York Times Co.'s debt to junk -- if not so much the Sulzberger scions. The Times Co. just announced a major reduction in its dividend, from 23 cents a share to a mere 6 cents a share.

"This was a difficult but necessary decision that will provide us with greater financial flexibility in these uncertain economic times," said chairman and publisher Arthur Sulzberger Jr. in the announcement.

Read the whole story here.

Comments

[LightSword]

AH well, they'll continue their slide into irrevelance... And maybe Murdoch will save them.
Look at how wonderful the WSJ is doing now. Balanced reporting is good.

[toocoldout]

I wish Rosie would come back on the show. Now the show is dominated by Elizabeth's republican talking points & there's no one to stand up to her.

[LightSword]

You gotta be kidding me. Elizabeth is the only republcan voice there...
ANd you obviously need to know Joy is one huge liberal.

[toocoldout]

What happened to them?

[UnstuckInTime]

If they simply stuck to real news reporting and stopped being the Obama Newsletter, people might actually start taking them seriously again.

[larry278]

NYT share holders, fear not; Pooch is getting help from a young (22) relative fresh from his job on the west coast. Look for the NYT's dividend to go to 8 cents in 2012.

[rustyaustin]

Pleas god fire the Sulzbergers, they suck.

[ResidentChimpinExile]

Who would of thought that being in the tank for the surrender monkey in chief would be bad for business?

[UnstuckInTime]

Flagged for racism.

[11907281]

Racisim was shown the door on November 4th 2008, I know it's hard to take the hint when you have no where else to go but JUST LEAVE !!!