The New York Times Admits Defeat

  • 02/12/2018
  • Source: CNBC
  • by: Kellie Ell
The New York Times Admits Defeat
By Haxorjoe (Own work) [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

The newspaper printing presses may have another decade of life in them, New York Times CEO Mark Thompson told CNBC on Monday.

"I believe at least 10 years is what we can see in the U.S. for our print products," Thompson said on "Power Lunch." He said he'd like to have the print edition "survive and thrive as long as it can," but admitted it might face an expiration date.

"We'll decide that simply on the economics," he said. "There may come a point when the economics of [the print paper] no longer make sense for us."

"The key thing for us is that we're pivoting," Thompson said. "Our plan is to go on serving our loyal print subscribers as long as we can. But meanwhile to build up the digital business, so that we have a successful growing company and a successful news operation long after print is gone."

[RELATED: China Weaponizing Tech Against US Citizens]

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 Source: CNBC

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