November 11, 2008

An Old Media Trend I Endorse

Color me with many coats of Schadenfreude. I know, I know. I'm weak. I can't help it, but I just love stories like this: Times Company Stock Hits Another 52-Week Low

"With the new charge and related tax adjustments, the Times had a net loss of $106 million, or 74 cents a share, in the third quarter, compared with a profit of $13.4 million, or 9 cents a share, a year earlier."

In other NYT news, Times' rats begin to leave sinking ship for recession-proof government media jobs: Times Internet Chief Vivian Schiller Leaves for NPR

UPDATE: Times worth less than nothing: MediaPost "Some media companies are already watching their valuations evaporate into a merciless market decline, cash burn and revenue losses. The New York Times Co. is one of a growing number of coveted media concerns with a negative worth."

Breaking: Obama agrees to a bailout of the New York Times Only hours after Mediapost reported that The New York Times had a negative net worth, President-Elect Barack Obama announced a $5 billion bailout rescue package for the media concern.

Posted by Vanderleun at November 11, 2008 7:17 PM
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"It is impossible to speak in such a way that you cannot be misunderstood." -- Karl Popper N.B.: Comments are moderated and may not appear immediately. Comments that exceed the obscenity or stupidity limits will be either edited or expunged.

Q: Who will the NYT endorse for President in 2012?
A: The question is irrelevant since the NYT will no longer exist in 2012.

Q: How will the NYT change if it's bought by the government?
A: The NYT won't change...except its employees will have a worse health plan.

Q: What will be the new masthead motto of the NYT if it's bailed out by the government?
A: "All the news that's fit to s***."

Q: Will there be any personnel changes at the NYT if the government buys it?
A: Yes. Frank Rich will be promoted to a newly created Obama Administration post: "Deputy Undersecretary for Theatrical and Culinary Correctness."

Posted by: MarkJ at November 11, 2008 2:00 PM

Sister Pedantic here, Herr Vanderleun, but it's Schadenfreude. You have Schandenfreude...On the other hand. Schandenfreude would mean taking pleasure in someone's disgrace or humiliation or shame. Never mind.

Posted by: Jewel at November 11, 2008 7:02 PM

Oh,.... okay.

Posted by: vanderleun at November 11, 2008 7:36 PM

More prophetic than we care to acknowledge, I fear.

Posted by: Mark Miller at November 12, 2008 6:12 AM

I wrote a somewhat similar snarly post about saving the mailmen here.

Posted by: Bob W. at November 12, 2008 8:59 AM

I meant "snarky".

Posted by: Bob W. at November 12, 2008 10:56 AM