Michael Hirschorn over at The Atlantic writes of The New York Times that:
The paper’s credit crisis comes against a backdrop of ongoing and accelerating drops in circulation, massive cutbacks in advertising revenue, and the worst economic climate in almost 80 years. As of December, its stock had fallen so far that the entire company could theoretically be had for about $1 billion. The former Times executive editor Abe Rosenthal often said he couldn’t imagine a world without The Times. Perhaps we should start.
That’s a scary thought, but perhaps is one that is slowly but surely become more of reality. I don’t like to think of a world without The New York Times or many other large newspapers, but I still fail to see how they are adapting to new technologies in a speedy and efficient manner. The next few years will be interesting, and potentially lethal to the newspaper industry. I’m glad I’m did not go into school with dreams of writing for the Times.