America’s most revered newspaper is latest to be hit by financial woes

Like so many US papers, the New York Times is beseiged by both the credit crunch and an online media revolutionIt was meant to be a new beginning for a venerable newspaper. The New York Times building, soaring 57 storeys above Manhattan’s 42nd Street, was heralded as the most significant addition to the city’s skyline for a decade.When it opened in 2007, it was an ambitious statement of intent for the most famous journalistic brand in America. It would be a sleek and stylish home for the best journalism in the world.That was then. Now the “Grey Lady”, whose masthead bears the famed motto “All the news that’s fit to print”, has begun to look decidedly off-colour.
http://www.guardian.co.uk/media/2009/jan/11/new-york-times-credit-crunch