New York Times Inc. is betting on digital-only subscriptions for its iconic newspaper. That has been the one bright spot in Q1. During that quarter, it added 67,000 new digital-only subscribers. However, simultaneously advertising was down 7%. The net loss was $14 million. Here is the coverage from The New York Times.
The question remains if this entity can survive. It has shuttered its Paris operation, eliminating 70 jobs. This summer there will be more layoffs. But those kinds of cost-cutting initiatives might not be enough for this media company to survive.
Jeff Bezos, head of Amazon, took over The Washington Post. Otherwise, it might have eventually disappeared. Some speculate that a deep-pocket foundation will have to take over The New York Times Inc. That would preserve serious investigative reporting.