Is The Grey Lady Broke?
The NYT responds to Hirschorn. Henry Blodget looks at the NYT balance sheet and thinks the paper will have to cut costs. He suggests:
- Cut costs at least 20% this year and 20% next year
- Continue to raise subscription prices for the print edition
- Explore charging $80-$100 a year for a web subscription
He adds: "The first two moves are no-brainers. The third one, we realize, is sacrilege. We'll defend it in a future post." Web subscriptions are not going to work. Henry suggesting it makes one question the rest of his analysis.