Poynter analyzes the reasons behind NYT's Wall Street woes noting that, despite significant circulation declines at other papers across the US, investor speculation about newspaper stocks across the board affected the Times Company the most, it having lost 35% of its share value in 2005. Financial analysts and a Times spokeswoman cited pessimism about the company's purchase of About.com combined with "the single worst ad revenue trends in the industry, led by the Boston Globe."

The Beantown paper is arguably the NYT Co. holding affected most by the current situation. The Boston Phoenix has written an in depth article about the mood at the Globe, which, after a year plagued by job cuts and an 8% circulation lost, is to say the least, gloomy. The newsroom atmosphere is such that, despite continuing to turn out quality journalism for the Boston area, the Phoenix writes that a new slogan at the Globe is, "The joyless pursuit of excellence."   

2006 doesn't look much better for NYT. Recent predictions that newspaper ad growth in 2006 will not even meet the low expectations of analysts means the NYT Co., which depends on 47% of its ad revenue from national advertising, some of which is moving rapidly to the Internet, could lose even more of its stock value and possibly more of its core audience. 

Sources: New York Post (subscription required), Poynter, The Boston Phoenix