In an article to be published in the September issue of Vanity Fair out tomorrow Michael Wolff paints the New York Times‘ current administration, always the target of the Bush administration’s ire, in a “crisis of confidence.”
The Times current predicamentits share price has fallen by 50 percent since 2002; almost 30 percent of its shareholders protested the company’s slate of directors at the annual meeting this springgets closer and closer to that of the Knight Ridder papers, forced into a sale; the tribune company, publisher of the Los Angeles Times and the Chicago Tribune, locked in a more or less mortal boardroom war; and Dow Jones, with its worried family members fretting about a sale of The Wall Street Journal. the Bush people cannot be unware of this.
Wolff finds former executives to rail against Arthur Sulzberger (Editorial? [Sulzberger is] running the business side too! This wasn’t supposed to happen!”) and seems to anchor part of his piece of the Times‘ forthcoming $850 million West side digs.
We disagree with plenty of it, but it’s nonetheless a fascinating read if just for the dark joy we find in holding a magazine that, itself, weighs more than its covergirl.