New York Times facing troubling deadline

Henry Blodget at The Silicon Alley Insider published an article today examining the financial future of The New York Times Company.

Specifically, the company must deliver $400 million to lenders in May of 2009, six months from now. The company has only $46 million of cash on hand, and its operations will likely begin consuming this meager balance this quarter or next.

According to Blodget, there are several things the company can do to help it make this deadline, but it probably won't like any of them.
They include selling off some of the company's assets, draw from a $366 million credit line it has available, and making "major cash-saving cost cuts, including eliminating (or severely cutting) the dividend."

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