Finally, Morgan Stanley analyst Doug Arthur downgraded New York Times (NYT) to underperform from neutral. Frankly, I would rate NYT a sell.
NYT, with its ultra left wing liberal editors, are among the most biased papers in the US. One often wonder whether the editor board isn't card carrying members of the Cuban government.
As for ad revenues, which drives papers stocks, I see only wireless ads and weekend electronic stores fliers; not many during the weekdays, and pages are still few.
As for subscriptions, that has also declined, as the NYT has started to become more and more like the National Enquirer, often creating stories like IBM and GE cooking their books, Clinton having affairs, and Bush acted like an idiot after 9/11/01.
Personally, I think the SEC should investigate the NYT for their bad work of financial reporting. As they have not been reporting it like it is, but rather reporting to created the most publicity; even if they have to lie and fabricate the news. Which does not make the NYT any better than Enron.
New York does not need the NYT anymore, the WSJ and the Post is good enough.
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