08/14/2009 05:12 am ET Updated May 25, 2011

Memo: Arthur Sulzberger Explains $1 Billion In New York Times Debt To Staff

New York Times Company (NYT) staffers got a memo in their inboxes this afternoon from chairman Arthur Sulzberger and CEO Janet Robinson titled "On the Record . . . From Arthur + Janet, Vol. 2 The Story of Our Debt."

The memo observes that the NYT has done enough financial engineering in the last year to avoid immediate bankruptcy--which, in fact, it has.

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