The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.
Dec 8, 2008
NYT bets the house
The credit crisis has slammed the newspaper business. Rumblings of bankruptcy at Tribune Co. and now the New York Times plans to borrow against its new building to ease a cash flow problem: