2 Comments

Summary:

Now The New York Times Company (NYSE: NYT) will see how much support it really has from its non-employee family shareholders: the board of d…

Now The New York Times Company (NYSE: NYT) will see how much support it really has from its non-employee family shareholders: the board of directors voted today to suspend the quarterly dividend for Class A and Class B shares. (The family trustees say full support; see the statement below.) It’s all about keeping as much cash as possible in an increasingly tough ad market — and an even tougher credit market. The decision follows last quarter’s dividend cut to $0.06 from $0.23 in Q308.

The explanation from NYTCo Chairman Arthur Sulzberger, Jr.: “Today

You’re subscribed! If you like, you can update your settings

  1. This company is completely desperate right now. The morale must be incredibly low.

  2. Why on earth, the board of directors has not implemented a online subscription system as wsj.com has done, is beyond my comprehension. With four to five million viewers a day, $50 dollar a year subscription can go a long way to pay down the bond holders.

Comments have been disabled for this post