Comment by thaumasiotes
2 days ago
The Washington Post is also a public company (before 2013). In their 2009 filing, they state that the newspaper's revenue (in 2008) was 51% ads, with the other 49% not attributed.
At that time operating expenses exceeded revenues by 25 million dollars, though this was not an immediate problem for them because they owned several other more profitable companies.
By contrast, in that same year the New York Times announced that they had managed to stave off insolvency by securing a large personal loan from Carlos Slim, who went on to become their biggest shareholder.
How are we distinguishing between these two newspapers? What's supposed to be "exceptional" about the New York Times?
Why are you looking at 2009? Is it because you think it fits your narrative? What happened in 2008 I wonder that may cause companies to be struggling? NYT is a profitable company with majority of their income coming from paid subscriptions. Does that answer your question about how they are different or do you wanna check their revenue split and financials in 1928 too?
A business secured a loan from a billionaire after the GFC and paid it off in 6 years. The billionaire also acquired a significant position in the business that he has mostly exited with a significant profit generated from the business subscription model. More on this crazy story as it unfolds at 11
It's no different -> Paid subscriptions have never been a significant source of revenue to newspapers -> well, they were struggling in 2009 -> ...
I'm looking at 2009 because the claim above was that newspapers other than the New York Times, but not the New York Times, are subsidized by billionaires, and 2009 is the year that the New York Times had to beg for a subsidy from a billionaire. Was that not clear from my comment?
How is taking a loan a subsidy? do you understand how loans work?
It's no different -> Paid subscriptions have never been a significant source of revenue to newspapers -> well, they were struggling in 2009 -> they took a loan that one time -> ...
4 replies →
> by securing a large personal loan from Carlos Slim, who went on to become their biggest shareholder.
NYT has dual class shares. It’s run by the Sulzberger family despite Slim’s stake.
They are rich, but not billionaires.