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October 23, 2008

A Little Afternoon Pick-Me-Up

Taking on water, and listing to port.

Oct. 23 (Bloomberg) -- New York Times Co., the third- largest U.S. newspaper publisher, will consider cutting its dividend after reporting a loss on severance costs and a steeper drop in advertising sales.

The payout will be reviewed ``to determine what is most prudent in light of the overall market conditions,'' Chief Executive Officer Janet Robinson said today in a statement. New York Times, working to reduce $1.1 billion in debt, faces increasing financial pressure to reduce the dividend that pays the controlling Ochs-Sulzberger family $25.1 million a year.

Mmmmm...now that's some tasty schadenfreude.

posted by Slublog at 03:29 PM

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New York Times, working to reduce $1.1 billion in debt, faces increasing financial pressure to reduce the dividend that pays the controlling Ochs-Sulzberger family $25.1 million a year. Mmmmm...now that's some tasty schadenfreude. posted by Slublog at 03:29 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [/i][/b]andycanuck (hovnC)[/s][/u]: "Maral Salmassi @MaralSalmassi Despite claims made ..." jimmymcnulty: "Are Australian pizzas served upside down. Asking ..." 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