New York Time Will Vacate 8 Floors In Its HQ To Generate “Significant Rental Revenue”…(NYT, You Can Go TOO!!)

Friday, December 16, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Dec 16, 2016

Remember when The NYT reported that its ad hoc campaign to boost revenue by selling subscriptions in response to the vicious back and forth with Donald Trump, was said to be a smashing success? Perhaps it was subscriptions for the crossword puzzle because it appears the monetary success was not smashing enough, and according to a just released note from executives Arthur Sulzberger and Mark Thompson, the “alt-left” newspaper will vacate at least eight floors in its iconic building, allowing it to “generate significant rental income” because “frankly, too expensive to occupy this many floors when we don’t truly need them.”

Remember: when the newspaper business model no longer works, one can just pivot into a REIT.

The remaining staff will be consolidated on the remaining, redesigned floors in a “more dynamic, modern and open workplace, one that is better suited to the moment.”

Furthermore, the NYT publisher and CEO will lose their corner offices, which they call a “vestige from a different era” and will “introduce more team rooms and common spaces.”

The Rest…HERE

Comments are closed.

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter