"New York Times Co. shares leaped 10.7 percent in after-hours trading after Fox Business Network reported billionaire businessman Michael Bloomberg had expressed renewed interest in buying the paper." - Keith J. Kelly, New York Post, May 1, 2015. Here is the article.
Despite the reality that we live in a digital age, the NYT Inc. hasn't been able to reconfigure itself to how a media property can grow revenue and profits as everything keeps changing. In Q1 2015, the company lost $14.3 million.
No longer is it the first or even the must read for thought leaders. For business, for example, we now have BusinessInsider. For law, the fun Abovethelaw.com, at which the loved journalists get the tips from law firms and law schools about news which hasn't broken yet. In tech, there's TechCrunch.
Its internal melodrama, such as related to the firing of Jill Abramson, has positioned it as unable to manage its people. Obviously, there isn't a team ethos in having this institution survive.
And, the data and insight are packaged in too big bites. Like USA Today, the story could have been packaged into smaller bits.
Bloomberg's leadership is exactly what can "save" the NYT newspaper. The other alternative would be for a foundation to provide the financial support.
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