News Byte

Want to Lend the New York Times Some Money?

The publisher says it will launch a $200 million debt offering, and will use the money for “general corporate purposes including, among other things, to pay down debt and other financial obligations.” The company had previously announced that it would pay off the $250 million it owes Mexican billionaire Carlos Slim ahead of schedule, but didn’t say where it would get the money. So go ahead and connect a dot or two if you’d like.

Viral Video: "Machete" Slices and Dices Arizona Law

Talk about good timing–Robert Rodriguez’s upcoming “Mexploitation” movie, “Machete,” centers on Mexican immigrants and the border, a perfect flashpoint for the controversial new immigration-related search laws passed by Arizona recently. Director Rodriguez used the opportunity yesterday of Cinco de Mayo to release an anti-Arizona trailer for the film.

Yahoo Gets New PR Head From NetApp–The Internal Memo (Natch!)

New Yahoo Marketing head Elisa Steele named a colleague from her former job, NetApp, as SVP of Global Communications at the Internet giant. Eric Brown was the VP of corporate relations at the data storage company, on whose board Yahoo CEO Carol Bartz has also served. Before that, he was at Adaptec. And, according to Yahoo’s internal memo, Brown likes to eat ice cream in bed while reading a Kindle and surfing the Web. Scooch over and make some room for BoomTown, Eric!
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More Pulitzers, Less Money: New York Times Ad Sales Down 27 Percent; Q2 Looks Just as Bad

Yesterday the New York Times won five Pulitzer Prizes and executive editor Bill Keller took a well-deserved victory lap with a speech that reportedly had his newsroom in tears. But for better or worse, none of that matters to investors, who are trying to figure out what the company’s long-term prospects look like. In the near term, they look terrible. In the first three months of this year, the company saw ad sales drop 27 percent, and the Internet no longer helps: Web ad sales were down 6.1 percent. The company says to expect more of the same, for a while.
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Yahoo Telenovela to Get the Vanity Fair Treatment

Misguided managers, Luddite corporate raiders, a thuggish hostile takeover from a software giant, a revolving door of employees, a dash of Internet moolah and a tough-talking lady CEO to the rescue! Also some Googzilla action thrown in for good measure. Of course, it has all the elements of a good story for Vanity Fair magazine! Actually, Yahoo has all the elements of a good Mexican telenovela, but it’s only a magazine article that is apparently in the cards to chronicle the stumbles and bumbles of the Internet giant.
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