Moody’s finally locked the barn door after the horse was gone, downgrading NYTCo’s debt to junk. (Most objective observers would agree that it’s been there for quite a while). This will make it even more expensive for the company to borrow money to fund its operations, and it’s plenty expensive already.
We don’t mean to keep harping on this, but would it be too much to ask NYTCo management to give shareholders some sense of their long-term plan? Selling buildings and baseball teams and taking usurious loans from Mexican billionaires just isn’t going to get the job done.
See Also: Our Plan To Fix The New York Times