Warsh: Washington Post is moving to preserve its independence, New York Times ‘seems at risk’

Economic Principals
David Warsh admires the Washington Post’s long game. It’s been “cutting costs and buttressing its unassailability,” he writes, while the New York Times “often seems to be doing just the reverse.”

As a national paper in competition with the WSJ, it has many close substitutes, among readers and advertisers alike. Its strategy seems downright reckless: keep staffing high, expand various sections, price aggressively (a daily paper costs $2.50, vs. $2.00 for the WSJ), and deepen the Web presence.

Warsh notes that the Post’s market capitalization is about $3 billion — compared to the Times’, which is about $1 billion — and its stock prices aren’t on the same planet. The Times, Warsh writes, is “living on moonbeams.”

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  • http://twitter.com/inertius c p

    and isn’t that the point? wapo has those assets to see it through and the nyt doesn’t … just carlos slim’s pickins, which won’t come without strings forever

  • http://www.newsinc.net/ David M. Cole

    Warsh makes the fatal mistake of comparing NYT Co. — which today is just the Times, the Boston Globe and IHT (plus ancillary) — with WaPo — which is Kaplan, a healthy cable-TV operation, a fairly robust string of broadcast stations *and* the Post (plus ancillary). As commenters on Warsh’s own blog point out, if Warsh were to strip away the non-newspaper assets of WaPo and compare them with the newspaper assets of NYT Co., his whole post would have to be rewritten (except for the snarky parts which would lose a most of their impact, since the facts would be different).