And it should be any day now, judging the latest from Jammie Wearing Fool:
The New York Times Co posted a quarterly loss from continuing operations on Thursday, hurt by charges for job cuts and said it is looking for ways to reduce debt.
The company, which reported a 16 percent drop in advertising revenue at its news media group, also said it may write down the value of its New England operations by up to $150 million, underscoring the dismal state of newspaper advertising.
Its shares fell more than 10 percent on Thursday afternoon, hitting its lowest level since 1991.
Separately, Moody's Investors Service said it might cut its ratings on the Times into junk territory, citing concerns about revenue declines and risks associated with financing its debt.
That's some extra special failure there. A newspaper failing during what should be its most heavily read quarter, a presidential election? The newspaper of record? That one?
Meanwhile, here in Arizona, our own Arizona Repugnant is failing at a time when one of its senators is running for president.
I am giggling at the mere thought of the death of the mainstream media. I may not be making a windfall blogging as yet, but unlike the Times, I'm not losing money. When I finally get my journalism degree in the mail, I think I'll send it to the Times and thank them for ruining my reputation.
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