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Henry Blodget: You're Not Going to Believe This But the Future of the New York Times May Now Actually Be Bright
The New York Times
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(NYT) almost went bust two years ago.
If not for emergency asset sales, cost cuts, debt-restructuring, and an 11th-hour bailout by Mexican billionaire
Carlos Slim
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, the company's stockholders -- including the Sulzbergers -- would have been wiped out, and the most iconic newspaper in the world would now be under the control of its debtholders.
But the crisis has passed. Read more
Summary
If not for emergency asset sales, cost cuts, debt-restructuring, and an 11th-hour bailout by Mexican billionaire Carlos Slim, the company's stockholders -- including the Sulzbergers -- would have been wiped out, and the most iconic newspaper in the world would now be under the control of its debtholders.
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