NY Times cites a need to generate revenue and cut costs
The New York Times reports to its staff that it has lain down and is fighting a losing battle with rigor mortis. The newspaper will vacate at least eight floors in its building, allowing it to “generate significant rental income” because it is “frankly, too expensive to occupy this many floors when we don’t truly need them.”
“We’ve made the decision to consolidate our footprint across the building to create a more dynamic, modern and open workplace, one that is better suited to the moment,” Publisher Arthur Sulzberger Jr. and President and CEO Mark Thompson wrote in a letter to their employees Friday. “We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income.’
ZeroHedge has the complete letter. You can smell the sweat of desperation in the Dear Colleagues letter — signed informally, Arthur and Mark — which promises more details soon.
How long before Arizona’s largest newspaper alternately referred to as the Arizona Repugnant or Daily Regurgitation follows suit and folds its tent? In Saturday’s edition, as an example, the exact same story, headline and photo appeared in two separate sections of the daily newspaper. Admittedly, the demographic for a hard copy edition thrown in the driveway, is the over 65 crowd, but even they know an insult when they see it, whether it’s duplicate articles in the same edition or the reckless endorsement of scandal-plagued Hillary Clinton for President, the latter of which resulted in an explosion of subscription cancellations.
This Real Clear Politics post-election analysis by Jeffrey Anderson, Trump Won on the Issues, includes an examination the Arizona vote. Trump, whose campaign focused on jobs and illegal immigration, touched a nerve the Hillary endorsing newspapers across the country, sorely misjudged. Trump’s unprecedented win as a political outsider, also exposed the irrelevancy of endorsing newspapers.
In a last-ditch effort to stay alive, the Arizona Republic repeatedly implores its remaining readers to “Go deeper with digital.” With readership in decline and hemorrhaging subscriptions, the left-wing newspaper, pushing its dual agenda of amnesty for illegal aliens and force-feeding homosexual issues, reaps no benefit from paying for newsprint, ink or delivery while struggling to keep the lights on. Massive layoffs and incentivizing early retirements for longtime employees haven’t helped keep it off life support.
Still, the newspaper would rather fall on its sword insulting its readers than take a right turn to stay alive. When it comes to the newspaper industry, such martyrdom is simply another affront.