S&P slashes New York Times rating to junk

Reuters reports:

Standard & Poor's on Thursday slashed its ratings on the New York Times Co (NYT.N: Quote, Profile, Research, Stock Buzz) 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.

Look at the monthly chart.Maybe,the NYT should spend more time focusing on how to run a business instead of telling other people how to run theirs.