Sulzberger on NYT Debt: We Will Last Through 2011

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.

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