NY Times circles the drain

Re-arranging the deck chairs on the Titanic:

The New York Times Co. fell into a deeper financial hole during the first quarter as the newspaper publisher’s advertising revenue plunged 27 percent in an industrywide slump that is reshaping the print media. Its shares dived Tuesday as investors prepared for the debut of Harvard-educated bore Ross Douthat on the op-ed pages of the struggling newspaper.

I might have added that last part.

UPDATE: David Boaz of the Cato Institute points out that the NYT can’t get basic facts right.

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