New York Times Mediasaur Downgraded to Junk

Warren Buffet famously said the internet was good for capitalism, not capitalists. The New York Times is supposedly the world's premier newspaper and is learning the meaning of that truth. The internet will kill newspapers, Guido has been telling sceptical dead tree hacks this for years. The Guardian's expensive shiny new HQ being built in Kings Cross will be a museum eventually. This affirmation has come across the wire NEW YORK (Standard & Poor's)-- Standard & Poor's Ratings Services today placed its ratings for The New York Times Co., including the 'BBB-' corporate credit rating, on CreditWatch with negative implications.Just in case some old hacks from the non-profit sector of journalism don't understand what that means, Guido will spell it out slowly - the "Gray Lady" is going to non-investment "junk" status. J - U - N -... [read full story]