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New York Times sells part of headquarters for $225 million

Posted Mar 9th 2009 11:30AM by Joseph Lazzaro (RSS feed)
Filed under: Deals, Internet, New York Times'A' (NYT), Media World

In a move that surprised absolutely no one, The New York Times Monday agreed to a sale-and-lease back of part of its new headquarters building for $225 million, Bloomberg News reported.

The move, which involves the sale/leaseback of 21 floors of the 52-story building, will provide The Times with revenue needed to pay-down debt and increase its cash position during a period of declining revenue for print advertisements, Bloomberg News reported.

Continue reading New York Times sells part of headquarters for $225 million

With the Internet, newspapers face their biggest hurdle, but not their first

Posted Feb 5th 2009 2:50PM by Joseph Lazzaro (RSS feed)
Filed under: Newspapers, Internet, Media World

The Internet, or its latest version known as Web 2.0, is still too young to make any sweeping statements (also known as informed conclusions) about its impact on print U.S. newspapers.

Still, we know that newspaper readership among adults - - and among young adults ages 18-25 in particular - - decreased after the Internet came into being.

But here's a little fact you rarely hear about: newspaper readership was declining even before the Internet started transforming businesses and lives in the 1990s.

That said, it is clear that some newspapers will not survive as the Internet progresses. Further, almost all will have to substantially modify their print business models to remain viable. Many, if not most, will have to specialize in some way, or otherwise develop some niche, to retain utility.

Continue reading With the Internet, newspapers face their biggest hurdle, but not their first

NYT TimesSelect becomes freely available

Posted Aug 7th 2007 11:50AM by Kevin Kelly (RSS feed)
Filed under: Newspapers, Internet, New York Times'A' (NYT)

As I've already covered on BloggingStocks, the New York Times (NYSE: NYT) has been considering getting rid of its premium online service, New York TimesSelect, for several weeks. According to an article in today's New York Post, the TimesSelect content has finally been "freed." The article goes on to state that the service will be discontinued once "software issues associated with making the switch to a free service" is resolved.

TimesSelect was a paid service that allowed readers to access the works of the most prominent and widely-followed New York Times columnists. Pricing for this product was less than $50 per year, but in today's blogging age the internet is loaded with free media and very few people were interested in paying up for newspaper content. As a result, the service's subscriber count fell to about 221,000 in June, down from 224,000 in April.

This move makes perfect sense. The age of paying for content on the internet is slowly losing its appeal to both publishers and readers. Publishers can reach a much wider audience and oftentimes monetize users at nearly the same rates with today's advertising solutions while readers are happy to receive the free information.

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Last updated: November 12, 2009: 05:59 AM

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