WASHINGTON, July 26, 2011? Accuracy in Media Chairman Don Irvine today commented on the recent subscriber and financial reports brought forward in the latest issue of New York magazine.
“Contrary to a New York magazine article, Arthur ‘Pinch’ Sulzberger Jr. did not bring the paper back from the brink of financial ruin,” Irvine said. “Stockholders such as AIM and others are still at a loss as to how the use of an online paywall was the solution to the problems the paper faced. We have not forgotten that under ‘Pinch’ the Times is low on cash; saw a double-digit percentage drop in stock value; dumped performing assets like the Boston Red Sox; and oversaw a decline of more than 81 percent of The Boston Globe’s value. With that level of business acumen on display, Accuracy in Media can only expect the value of its shares to plummet more.”
AIM’s full story can be found here.
Accuracy in Media is the leading citizens’ media watchdog whose mission is to promote accuracy, fairness and balance in news reporting. AIM exposes politically motivated media bias, teaches consumers to think critically about their news sources, and holds the mainstream press accountable for its misreporting. For more information, please visit www.aim.org.