In an attempt to cut costs, The New York Times Co. (NYSE: NYT) is folding Play, the quarterly sports magazine launched in February of 2006, as the weak economy and declining ad sales slam its stock price and threaten the future of its dividend.The Wall Street Journal reports (subscription required) that the company explored a variety of options for making Play work, including cutting staff and going online-exclusive, but there was just no way to make the magazine profitable.
It's a shame for sports fans because, as you'd probably expect from The New York Times, it offered a level of intelligence and nuance that is rare in the world of sports writing. A few years ago, the concept might have had a better shot, but with the company's balance sheet the way it is, it's just not in a position to bleed cash on projects that might pan out well over the long-term.
As the stock price craters, you have to wonder at what point the company will become an attractive takeover target once the economy begins to turn around. But with a dual-class voting structure that puts one family in total control of the company's future, a deal seems unlikely even if it is in the best interests of shareholders.











Reader Comments (Page 1 of 1)
11-19-2008 @ 8:12AM
FB said...
"it offered a level of intelligence and nuance that is rare in the world of sports writing" - they must not be as smart as they think. Long live ESPN the Mag!!
WORRIED ABOUT TRAILER THEFT??
You need to:
http://www.carrythebigstick.com
11-19-2008 @ 8:35AM
LCRI said...
Problem is/was two-fold: people who really didn't understand sports tried to write about it and/or wrote about angles that readers just did not care about.
11-19-2008 @ 8:33AM
nick said...
Anytime I hear the New York Times is in trouble it's music to the ears. If they went under I would have a party. Would love to see someone by up GE and turn the NBC network around to fair and balance, what a dream.
11-19-2008 @ 9:07AM
porno the clown said...
you made my day. i finally heard it .there is no intelligece in any sport.
11-19-2008 @ 11:09AM
Terry said...
Great!! Now if they would just take the whole newspaper down, we would have a less biased press.
11-19-2008 @ 11:12AM
Darlee said...
Save a tree..quit reading anything in print!
11-19-2008 @ 11:18AM
azjohnny said...
that this new york times rag is starting to slowly divest itself of departments is testimony to its loss of subscriptions due to its liberal slant and the fact most people recognize that - - great news - - i'm waiting for the editorial staff to hit the sidewalk.
11-19-2008 @ 11:21AM
cher said...
The whole of NY Times & their partners in business & crime MSNBC will be next to bite the dust, once people find out how they been duped.
11-19-2008 @ 11:29AM
Tommy Dolphin said...
Well deserved....when will the "Obama" Times be coming to their lib friends for a bailout.
11-19-2008 @ 11:46AM
poppy said...
that's just too bad, isn't it?... i guess you alienated just enough of your readership with your slanted reportage of the elections that they just aren't "buying" what you're selling, huh?... go figure... i guess my daddy was right all along - everyone's crap DOES stink!
11-19-2008 @ 11:41AM
pr said...
the ny times needs to go out of buiness, they are not objective and are far left wing. they are a bad newspaper as well as the ones they own
11-19-2008 @ 12:01PM
Don said...
Rather than shutting down the sports mag, they should ditch the leftist rag known as the NYT.
11-19-2008 @ 12:20PM
tom said...
New York Time Rocks, but its a little old school
http://www.youtube.com/user/JustWinDeja
11-19-2008 @ 12:30PM
Sean said...
No big loss. I subscribe to the NYT and get it delivered every day. Great paper. But Play was a waste of ink. No wonder they are losing money. Leave the sports to SI, etc. Stick to news.
11-19-2008 @ 1:29PM
PJ said...
The New York Times is WAAAAAY too highbrow, leftist and elitist for a sports magazine. The things they wrote had nothing to do with sports, as I understand them, which made me wonder, since the beginning, if there were ‘real’ sports people doing the reporting. This media outfit needs to stick with misreporting the news. It is good at that.
11-19-2008 @ 1:33PM
John Moore said...
What in the world is Play magazine, never heard of it. Besides,you save trees by reading it on the internet.
11-19-2008 @ 5:17PM
amazedatheLoIQ said...
All I can say is WOW. Everytime I read the comments on any article on AOL it appears the same brain dead idiots have to inject their right wing politics. It really does not matter that this is a story about a sports mag. The nit wits hear New York Times and wax idiotic about their FOX News mentality. 8 years of stupidity was enough for the vast majority of America, but this small group of totally retarded thinking lost souls who simply cannot absorb facts or the truth, but still feel compelled to comment with their hateful grunts. For them: stick with FOX where you can insulate yourselves from the real world. Pretending is fun!