[ojbyrne]

Disagree. The NYT can make money by changing their cost structure to one more conducive to distributing news via the internet. The old rule of thumb for newspapers is that the "cover price" essentially covers distribution, and advertising pays for everything else. Advertising should end up being the same or larger, but the cost of distribution should be significantly less.

They'll end up there anyway, but executives tend to fight tooth and nail against lower cost structures, because it also means lower salaries for executives (smaller company means that fewer of them are needed and there's less room for featherbedding).