CBS First to Buy Ad on New York Times’ Front Page
January 6, 2009 11:37 AM
If we didn’t know for sure how bad things in the media economy are, the New York Times, the venerated gray lady of newspapers, sold its first front-page ad to CBS Television. The ad runs at the bottom of the page, spanning all six columns.
As a longtime editor and journalist, I’ve had a history of battles with publishers who wanted to cross what has become an ever-blurring line between church and state. Not that this example is a blur of that line, for the CBS ad is clearly marked as an ad.
I know a lot of journalists who are decrying the NYT’s decision, but I’m not one of them. Clearly media’s economics need tweaking during this pervasive recession, and if that ad keeps newspapers alive and prevents future job losses, I’m all for it.
I’m sure this was a difficult decision for the Times, which is already mortgaging its real estate in New York and selling its 17% ownership in the Boston Red Sox.
And for CBS, this was a coup. Am I wrong?