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((The NYT is a debased **** rag and it should go out of business. Its
standards are lower than Newsday and the NY Post, to say nothing of
the Washington Times, a Moonie owned scandal sheet. Bret.))



Carlos Slim to bailout the NY Times?

"The New York Times is the most influential journalistic institution in the world. The NYT decides, in the more marginal cases, for the rest of the news media what is and isn't national news. Obviously, if a jetliner lands in the Hudson River, everybody knows it's news. On the other hand, if a drunken stripper makes incoherent accusations against Duke lacrosse players, it's only news if the NYT decides to run two dozen stories about it, which lets everybody else in the media know that it's Real News Symbolic of Major Social Problems and thus they can sanctimoniously splash this salacious tripe.

The NYT, at present and probably for the future as well, is a big
money pit. No doubt it will have to downsize itself tremendously. But
likely so will its major competitors, so the NYT's relative influence
over the rest of the media is unlikely to decline much.

Meanwhile, as the federal government takes over control of ever more
of the decreasing amount of wealth in America, the long term relative
value of having a stake in the most powerful news arbiter should be
increasing. The NYT is, more than anything else, the chokepoint on
political discussion in America, so as politics determines ever more
of who gets his hands on America's wealth, the value of the NYT should
go up.

The market disagrees, but Mexican telephone monopolist, Carlos Slim,
who didn't get to be more or less the richest man in the world by
passing up a chance to influence the government, is, not surprisingly,
in talks to help bailout the New York Times. Once you've gotten the
Mexican government eating out of your hand, the logical next step is
the American government."

http://isteve.blogspot.com/2009/01/c...-ny-times.html