By Howard Kurtz
Washington Post Staff Writer
Thursday, February 19, 2009; Page C01
When Arthur Sulzberger Jr. refused to talk to his own reporter about the financial condition of the New York Times Co., it was the latest sign of an industry in deep trouble….
And mind you, the NYT's one of the healthier papers. As Kurtz notes, it "has barely cut its 1,300-person newsroom, the largest in the business."
And to remind you that it's not just newspapers, but anybody who depends on advertising, check this from Advertising Age about CBS:
Auto, Financial, Retail Down; Pharma, Telecoms Up
by Brian Steinberg
Published: February 18, 2009
NEW YORK (AdAge.com) — CBS Corp. said the roiling economy sparked a downturn in advertising that prompted a 52% decline in fourth quarter net income and said the broadcasting and publishing company would slash its dividend while the economy remained in turmoil.
"We are operating in a very difficult environment; some say the worst since the 1930s. Clearly, the market has been sharply affected by the recession, particularly in the last quarter of the year," said CBS CEO Leslie Moonves on a conference call with investors. "Our advertising business, obviously, has been caught in this downturn, especially our local business is having a significant impact on our TV and radio stations, as well as outdoor."…