Sulzberger on NYT Debt: We Will Last Through 2011

by Glynnis MacNicol | 9:00 am, July 15th, 2009

» 1 comment

The Awl apparently has a good connection inside the New York Times building because they keep getting these Arthur and Janet memos before anyone else! Today’s dispatch from Sulzberger and Robinson is all about debt. The NYT Co. has a lot, and even though it has been extensively documented by the media, A & J apparently felt it necessary — perhaps after yesterday’s sale of WQXR — to go over it again for their employees, step by step.

Here’s the good part, if you can call it that:

The Company carries approximately $1 billion in debt but of that amount only about $45 million matures before 2011, and we expect to repay that in November with cash flow from operations and our revolving credit agreement. The majority of our debt isn’t due until more than five years from now – in 2015. As a recent article in AdAge asked, “But can it [the Times Company] last through 2011? As it turns out, we think the answer is yes, and then some.”

For a walk through of the entire debt-riddled affair, click here.

NYT, Sulzberger

flyingtypers

So NYT sells WQXR
NYTimes could care less about WQXR or its listeners.
So a broadcast I heard on the station thanking the Times last night made me want to puke.
When QXR shut down its AM operation some decades ago most radios were AM not FM.
Now the station is going fom 6000 to 600 signal strength.
First thing that should happen is that Gregg Whiteside should be brought back and Sam Hall the news announcer should be begged out of retirement too.
NY Times fired Whiteside a couple years back because he must have crossed someone at NY Times when QXR was moved out of its downtown studios into NY Times Building upton.
We hear despite NY Times QXR still had 800,000 listeners.
Times should have dumped its dead news on dead trees and kept the station.
But maybe Whiteside a guy who really understood the music can come back.
The morning guy who replaced him Jeff somebody a nice enough chap can go back to rock ‘n roll.
Geoffrey Arend