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.





Loading comments…
Portfolio | Jeff Bercovici | November 20, 2008 04:43 PM