NYT Co. Chops Dividend

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By: E&P Staff

The New York Times Co. has addressed how it can potentially take care of some of that pending loan payment of around $400 million due in May 2009. The company announced it is chopping its dividend following in the footsteps of peers like Lee, McClatchy, and A.H. Belo.

Of course, the big question is: Will this move turn the Ochs/Sulzberger family into the Bancrofts? We have the answer over at the Fitz & Jen blog.

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