The Wall Street Journal is reporting that the New York Times has entered into talks with Mexican billionaire Carlos Slim that would set the terms for a large cash investment by Slim in the New York Times. Today’s Globe reports on the Journal article, and shows the precarious position of the Times.
Times Co., which owns The Boston Globe and other media properties, had about $46 million in cash and $1.1 billion in debt as of the end of September, the Journal reported. A $400 million credit facility expires in May.
$46 million in cash and $1.1 billion in debt? The controlling Ochs-Sulzberger family better get ready to cede control, because without a pretty big cash infusion they are going to have trouble rolling over debt of that magnitude. The trouble for newspapers just continues.
Bill Manzi.com 
I think its great that two liberal newspapers are close to folding. How many more will go?
Gerard
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All of them. And conservative ones, too. Guess we’ll be getting our news online soon, from coops of reporters and bloggers. It’s a brave, new world.
-FM
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Your Honor,
A great journal icon being brought low by a owners who sold out to partisan politics.
Dito Globe.
Jules
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Or, more simply, the loss of advertising revenue, subscription revenue, and freely available news from both the web and 24 hour news channels. Your choice …
-FM
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