How The New York Times Fell Apart

by Michael Malone - October 18th, 2007 - ABC News

As you may have read, yesterday brokerage giant Morgan Stanley dumped its entire stake -- $183 million worth -- in the New York Times, in which it was the second largest shareholder. Not surprisingly, Times stock immediately slumped, bottoming at a nearly 3 percent drop to $18.28 -- the lowest it has been in a decade.

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Over the last few years, we've seen a number of newspapers find themselves in deep financial distress as they've failed to deal effectively with the challenge posed by Cable News and the Internet, and particularly (on the editorial side) the blogosphere and (on the business side) Craigslist, Google, and eBay.

There are a number of words that describe the New York Times. Liberals. Traitors. Liars. Arrogant. Those words apply to other MSM (main stream media) but not to the degree that they apply to the "Times". Newspapers are in trouble. Unless and until they stop being propaganda machines for the socialists in the Democrat party, the MSM will not return to having the respect of anything but a small minority of socialist true believers.