MEDIA
03/18/2010 05:12 am ET | Updated May 25, 2011

Henry Blodget: NYT Doing Exactly The Right Thing

After coming close to death earlier this year, the New York Times Company (NYT) finally hit the panic button. Since then, it has done exactly what it should be doing:

* Raising the price of the paper for subscribers and on newsstands
* Sharply cutting costs
* Explore charging for online access.

These are precisely the steps we recommended earlier this year, and they are buying the company time to figure out a long-term strategy.

But let's be clear about two things:

* First, the company doesn't have a long-term strategy yet.
* Second, the current moves cannot go on forever.

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