The New York Times Co. (NYSE: NYT) has plastered its desperation for cash over the front page of the morning newspaper. Reuters reports that "The New York Times is selling display advertising on its front page, its latest step to seek new ways to make money as it deals with a prolonged ad revenue downturn."Monday's edition of the newspaper contained an ad for CBS below the fold on the front page.
Purists might be upset about it but the fact is that stuff like this may be The New York Times' best shot at staying independent. With the stock trading at under $8 per share, even the famously dormant Sulzberger family may decide that they've seen enough and look to sell -- If the company runs out of cash, they may not have a choice.
So if you're a supporter of journalism, buy the New York Times everyday -- ads on the front page are better than nothing.
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