Weak Results at the New York Times?

Dinocrat is this comment:

From a financial perspective, the NYT’s performance is not impressive. The company earned $23 million on revenues of $791 million in the third quarter. This profit is less than half that of a year ago (though comparisons are muddied by one-time charges), and only represents a 2.9% profit margin, very low for a media company. We were also surprised at the huge amount of debt that the NYT has, particularly compared to its current profiability: “The Company’s total debt, including commercial paper and capital lease obligations, was $1.3 billion as of September 25, 2005.”

T-Bills look like a better risk.