N.Y. Times outlines plans to “weather” 2009

In a media conference in New York, The New York Times Co. CEO Janet Robinson once again asserted that the company is not looking for buyers, according to Editor & Publisher.
Instead, she said the company recognizes that 2009 will be a difficult year, and steps are being taken to cut costs, minimize financial risk, and increase financial flexibility.

Executives at the presentation outlined how they were cutting costs including consolidation in areas like general administration, production, technology, circulation sales, and distribution. The company is trimming its benefits and decreasing the pension for non-union members as well as cutting back on newsprint — eight of its regional papers are scheduled to shrink.

The company does not expect to raise its ad rates or newsstand/subscription prices. It also predicts that online revenue growth will slow in the coming quarters.

Click here to read more.