Friday, February 22, 2008

To Win the Lady - washingtonpost.com

To Win the Lady - "Who is this muscleman with the sword who wants to fight his way onto the board of the New York Times Co.?"
I didn't realize that the Times was in such serious trouble. 97% of their corporate revenue comes from the News division - mostly newspapers. Without diversification, the future of newspaper corporations basically consists of slow death in an obsolete industry. They are like the railroad industry in the middle of the twentieth century. The company's stock has lost 60% of its value in the past six years.

Anyway, the article is about a colorful character whose backers have now gained 15% of the stock of the Times. He is trying to insinuate his slate onto their board of directors, presumably to give them a new plan of action other than to die with honor. The article doesn't specify any concrete remedies he might have in mind.

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