Stanton said his troops at the Times are scrambling to "reinvent our business on the fly," but need a break from the relentless cost-cutting of recent months. Saying he hopes the bankruptcy proceedings will buy a little time, Stanton said, "We have to call a timeout here ... or we're going to cut ourselves out of business." Sounding a more positive note, Stanton said the Times' web site revenue now exceeds its editorial payroll costs.
The Christian Science Monitor is now web only. Expect more publications to follow. What makes the Times development interesting is that the Monitor was always a national paper, and didn't (make that couldn't) depend on local retail advertising or auto dealerships to buy up page after page of ads.
H/T to Peoria Pundit.
Related post:
Obama and Khalidi and a videotape the LA Times refuses to release
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