NEW YORK, Oct 23 (Reuters) - Standard & Poor’s on Thursday slashed its ratings on the New York Times Co into junk territory and cited concerns about the newspaper publisher’s revenue outlook, after it posted a third-quarter loss.
Moody’s Investors Service also said it may follow the move, adding the publisher faces risks in refinancing its debt.
The New York Times posted a quarterly loss from continuing operations on Thursday and said advertising revenue at its news media group dropped 16 percent for the quarter. More here:
Moody’s Investors Service also said it may follow the move, adding the publisher faces risks in refinancing its debt.
The New York Times posted a quarterly loss from continuing operations on Thursday and said advertising revenue at its news media group dropped 16 percent for the quarter. More here:
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