Bank Of Baku

The New York Times can stop publication

The New York Times can stop publication
# 15 January 2009 08:41 (UTC +04:00)
Washington–APA. The New York Times can stop its publication in May because of world economic crisis. The newspaper publishing since 1851 overcame many financial crises, but current world crisis seriously crippled its financial position. President and CEO of The New York Times Company Janet Robinson said Ochs-Sulzberger family didn’t intend to sell the newspaper. The New York Times spent 75 percent of its annual incomes to pay 400 million dollars of debts and took 225 million dollars of credits to continue its activity. The newspaper’s advertising revenue was reduced for 20 percent as a result of economic crisis. Managers decided to place color advertising in the home page to increase the advertising incomes.


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