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Wall St. Knocks NYT Stock to a Ten Year Low

GD5406483@Jonathan-Glancey-arch-8994.jpgWhile people apparently can’t keep themselves from going up the Times building, the paper’s stocks are doing anything but. The New York Post is reporting that The New York Times‘ stocks have hit a ten year low after Lehman Brothers analyst Craig Huber sent “shares tumbling” when he said “its stock was pricey relative to its peers.”

Huber encouraged the Times to pay down its $1.05 billion(!) debt and “continue to evaluate the landscape for Internet acquisitions.” The outcome of all this, beyond the usual conclusion that the newspaper industry is currently on its knees, is unclear. We just hope that we’re not looking at a future storyline that includes buyout bonanzas, or “deep cuts” or fewer reporters writing longer articles. How much longer till Michael Bloomberg needs a day job?

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