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Tuesday, April 21, 2009

More Pulitzers, Less Money: New York Times Ad Sales Down 27 Percent; Q2 Looks Just as Bad

new-york-times-buildingYesterday the New York Times won five Pulitzer Prizes and executive editor Bill Keller took a well-deserved victory lap with a speech that reportedly had his newsroom in tears. But for better or worse, none of that matters to investors, who are trying to figure out what the company’s long-term prospects look like. In the near term, they look terrible.
In the first three months of this year, the company saw ad sales drop 27 percent, and the Internet no longer helps: Web ad sales were down 6.1 percent. The company says to expect more of the same, for a while.

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Monday, January 19, 2009

Meet the New York Times’s New (Very Expensive) Bank: Carlos Slim

It’s a done deal: Billionaire Carlos Slim has given the cash-strapped New York Times $250 million worth of breathing room. At a very high price. Under terms of a deal announced late Monday night, the Mexican telecom magnate has lent the Times $250 million at 14 percent interest–which means the Times will now have to come up with an extra $35 million each year.

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Tuesday, December 2, 2008

Newest Unpleasant Ad Numbers: Mortgage Ads Down 62 Percent

It’s no surprise that financial advertising has slowed down in the first three quarters of 2008. The surprise is that it’s only been a 10 percent reduction, according to Nielsen. But next year will be worse, of course.

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About Peter

Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.

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Ethics Statement

Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.

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