If NY Times Loses Money, What Does It Say for Other Papers' Prospects?

I know, I know -- we're all sick of hearing bad news about journalism. The latest bit came out this morning when the New York Times released financials for the first quarter--it lost $74.5 million and saw advertising revenue plummet 27%, reports BusinessWeek. The company blamed most of the losses on employee buyouts and continued red ink from the Boston Globe (and the Worcester (Mass.) Telegram & Gazette. That has only fueled rumors that the Times Co. wants to sell the Globe, reports the Boston Business Journal.

Among the measures CEO Janet Robinson announced to stem further losses included:

• $330 million in cost-cutting measures;
• A temporary 5% pay cut for most employees;
• Suspended the company stock dividend; and
• Sold most of its headquarters for $225 million

PaidContent.org covered the analyst call, noting that Robinson discussed issues including: continuing to focus on the advertising model; hope that discussions on concessions from the Boston Globe will move forward; and advertisers continuing to save their dollars in the first half of the year.

So if the Times is being hit with losses, one can only wonder what the prospects are for other newspapers moving forward?