Bad news for newspapers
...the New York Times (NYT) is approaching the point where it will have to manage its business primarily to conserve cash and avoid defaulting on its debt. This situation will only get worse as advertising revenue continues to fall...
This follows similar concerns at McClatchy as told in the Sacramento Bee:
Fitch, the least known of the credit rating firms, downgraded The Bee's parent two notches, to "B-minus." That leaves McClatchy deeper in non-investment-grade, or junk-bond, territory.
The bad economy is not going to be kind to newspapers that were already on the ropes.