NOTHING IS SACRED ANYMORE
GREENWICH RESIDENTS ARE SHOCKED TO FIND A CBS TV AD ON THE FRONT OF THEIR NEW YORK TIMES NEWSPAPER:
WHAT IS THE WORLD COMING TO.....
FIRST GRENWICHITES GET WIPED OUT BY BERNARD MADOFF AND WALTER "FEEDER FUND" NOEL.
NOW THE GREY LADY HAS ADS ON THE COVER - NOTHING IS SACRED ANYMORE !!!!
FRONT - PAGE NEWS
Times' Cover Ads Go For $75,000 - Plus
New York Times Publisher Arthur Sulzberger Follows Greenwich Time John Dunster's Lead And Smashes "The Paper Of Record's" Chinese Wall Between News And Advertising
One Of Greenwich Roundup's Clients Who Is A Greenwich Resident And Media Buyer Says That The New York Times Is Shopping Ad Space On It's Front Page For $75,000 On Weekdays
The Grey Lady finally made the decision to break away from the longstanding tradition and sell front page ads - starting with yesterday's edition - as it tries to cope with a serious ad slump and growing debt.
Like the Greenwich Time, most major newspapers, including USA Today and the Wall Street Journal put ads on their front pages, in the same manner as Hearst Newspaper's Greenwich Time property does.
TV Network CBS was the first advertiser to take advantage of the prime placement - a two and a half-inch deep horizontal strip across the bottom of the front page - in yesterday's paper.
The open rate for a national New York Times full page ad starts at $140,000.
Apparently, The Times is leveraging the front page space to get big national advertisers to increase their ad buys.
The paper is limiting the front page to big advertisers willing to spend more on top of their existing budgets.
A new advertiser who wants access to the space has to commit to buying the ad 36 times during the year - for a total of almost $2 million, according to our ad buyer friend.
Business reports have previously said that the Times ad revenue fell 21% in November.
The papers problems are exasperated by over $1 billion in debt.
Other business news reports says the company plans to sell or mortgage its headquarters in an effort to raise $225 million.
The times has also slashed its dividend by 75%.
Other business reports have documented the Times is laying off workers in order to save cash.
Recently, the paper has also trimmed the size of its front pages to cut paper and printing costs.
This is indicative of newspapers becoming more flexible.
Will the Greenwich Newspapers start to increase the amount of ad space on their front pages?
Just how much does Greenwich Hospital pay for those front page Greenwich Time Ads and anoying stickers?
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