Moody's dealt the New York Times a stiff blow today, threatening to cut its credit rating due to "weak cash flow, high financial leverage, and declining margins". Moody's also cited an item called "event risk".
I suppose possible indictment of the publisher and editor under Title 18 Section 793 of the US Code might be considered risky. NYT closed at $26.57 - down .52 from opening and only .49 above the 52-week low. Monday should prove even more interesting as shareholders consider the implications of "event risk".
I wonder if there have ever been any lawsuits by one class of shareholders against another? The Sulzberger's have certainly earned one.
La Casa de las Baleadas
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