The President is right. The NYT is failing miserably and is in serious financial trouble. The NYT’s financials for 2016 show massive decreases in the bottom line (net income) for the 4th Quarter and for the year. The NYT’s 4th Quarter net income was $37m, down from $52m in the 4th Quarter of 2015 for a 28% decrease. The NYT’s annual 2016 results were worse at $29m versus $63m in 2015 for a year over year decrease of 54%. The Times blamed the poor results on a “pension settlement charge, lower print advertising revenues and higher costs”.
Although the NYT reported that their 4th Quarter digital subscriptions were their highest ever, at 276,000, their current business plan is not sustainable and they still succumbed to miserable results. The NYT has many problems. This liberal dinosaur employs roughly 3,500 down from 5,200 in 2012 and while the majority of companies in the US are watching their stocks reach new all time highs under the Trump Stock Market rally, the NYT’s stock price is at $15 down from nearly $52 per share in 2002.
Although the NYT reported that their 4th Quarter digital subscriptions were their highest ever, at 276,000, their current business plan is not sustainable and they still succumbed to miserable results. The NYT has many problems. This liberal dinosaur employs roughly 3,500 down from 5,200 in 2012 and while the majority of companies in the US are watching their stocks reach new all time highs under the Trump Stock Market rally, the NYT’s stock price is at $15 down from nearly $52 per share in 2002.
