The New York Times: All the Junk That's Fit to Downgrade?

Yesterday we told you that the New York Times Co. was under even more pressure to cut its big dividends to shareholders after, among other things, a steep drop in advertising sales. As of yesterday the ratings agency Moody’s was threatening to downgrade the NYT Co. status to junk, and overnight Standards & Poors did just that, causing the stock to fall nearly 4 percent in late trading. (We asked our usual source what the difference was between the two companies.