The New York Times runs a CBS Network display ad on the front page of its print edition for the first time today (courtesy of NYTimes.com)
The next steps for the New York Times Co. and its flagship, promises to be one of 2009’s biggest media stories. The Times Co. ended 2008 by cutting its dividend and putting the Boston Globe and its Red Sox stake up for sale; in an effort to raise funds. Due to the fact that the Times Co. continues to loose ad revenue in its print edition and online and owes $400 million to lenders in May.
Today, the Times made news (yes, it broke its own story), by running a display ad (pictured above) on the front page of its print edition. It marks the first time that the “old gray lady” has run an advertisement on its front page and leaves only the Washington Post (I predict Marcus will run one this month – now that he is in complete control), as the only major daily who has not run an advertisement on its front page to-date.
Of course, the Wall Street Journal has capitalized on advertising on its front page for some time (predating Rupert’s arrival) and the move from the Times seems dated.
One can only hope that it’s the first move, of many, to stabilize the national paper of record this year (perhaps even becoming a non-profit?).