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Revolving Door Newsletter: 03.11.08
Murdoch Announces Recession, Globe Announces CutsMarch 11, 2008
While economists are holding their breath to see if we're already in a recession or not, Rupert Murdoch isn't waiting. As far he can tell, the advertising and media recession -- which always hits earlier and hits harder -- is already underway, with 5 percent drops at the Fox television stations. Will an Olympic broadcast and a presidential election year be enough to bail us out? Don't bet on it... The New York Times isn't the only New York Times Co. property to twist in the wind. Its corporate sibling up the coast, the Boston Globe, is experiencing ...