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Yesterday the New York Times (NYSE: NYT) suspended its dividend, following other struggling newspaper giants like McClatchy in a desperate move to save cash amidst the Perfect Storm buffeting their industry. A deep recession, sinking paid subscription rolls, and crashing classified and display ad sales caused by competition with the Internet have all conspired to put the entire newspaper business on life support far faster than almost anyone imagined possible.A number of financial bloggers and technology titans are now saying the Times won't survive the year. Even after suspending the dividend, NYT will struggle to be cash-flow positive, particularly considering it has to service a crushing 14% interest burden on the recent Hail Mary $250 million loan package from Mexican billionaire Carlos Slim Helu.
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