New York Times Company has majorly reduced its dividend, almost 75%. The newspaper business just isn't what it used to be. This is probably an economic sector that should have gone through its pains in the last downturn as the Internet media was waking from its bubble deflation. However, there were an endless supply of real estate professionals and banks eager to buy ads to target the less than intelligent members of our society, otherwise known as clownsumers.
Related:
Dividend Cuts
Newspapers!
Disassociated Press: AP to Cut 10% of Staff in 2009
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail
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