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Lazard Downgrades New York Times

February 5, 2013   ·   4 Comments

Source: NY Post

NYT

By Bloomberg:

New York Times shares fell yesterday the most in almost three months after Lazard Capital cut its recommendation for the stock to sell from neutral.

The stock dropped 6.1 percent to $8.33 at the close, the biggest one-day decline since Nov. 7. Shares of the company had climbed 10 percent last year.

New York Times Co. is expected to continue its streak of shrinking annual sales this week when it delivers earnings results.

The company has been trying to combat an industrywide decline in newspaper advertising by getting online readers to pay up for digital subscriptions.

The company cut about 30 newsroom jobs last month out of a total of 1,150 because of declines in ads. The business side of operations has already been reduced by more than 60 percent in the past few years.

“These are financially challenging times,” Chairman Arthur Sulzberger said in a December memo to employees. “The advertising climate remains volatile and we don’t see this changing in the near future.”

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Readers Comments (4)

  1. Nobody likes a liar, and certainly nobody likes a newspaper that openly advocates tossing out the Constitution.

     Reply
    • Mr. Jonz says:

      At least most other newspapers have some truth on the comics page, the NYT won’t even allow that much.

       Reply
  2. Gregg says:

    Corrupted MSM, yet another violation of our rights. The gov’t constantly violates our rights.
    They violate the 1st Amendment by caging protesters and banning books like “America Deceived II”.
    They violate the 4th and 5th Amendment by allowing TSA to grope you.
    They violate the entire Constitution by starting undeclared wars.
    Impeach Obama.
    Last link of “America Deceived II” before it is completely banned:
    http://www.amazon.com/America-Deceived-II-Possession-interrogation/dp/1450257437

     Reply
  3. robertsgt40 says:

    Yep. The NYT, still printing all the news that’s fit to shove.

     Reply





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