Some depressing news for the New York Times today: the newsroom is shrinking for the first time since 2009, as management is looking for up to 20 buyouts.
Obviously these are still challenging times for the industry, but we blame New York Magazine.
See, it cover-jinxed the paper.
This was the cover on July 24
And as you can see from this chart, the company basically tanked right at the end of July, having lost over 30% since then, underperforming the broader market significantly.
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