Ed Driscoll

"A Bad Day For Old Media Gets Worse"

In addition to the bad news reported in this post (on a day when the Dow did indeed close over 12,000), Stephen Spruiell links to this Editor & Publisher story:

The New York Times Co. reported Thursday that its third-quarter 2006 profit from continuing operations plunged 39.2% on costs related to its job cuts and a loss on its sale of its 50% stake in the Discovery Times Channel.

Glad to see them paying a price for their arrogance.