Here's Why the NY Times Is Stupid

Damien Hoffman Wall St. Cheat Sheet April 7, 2011

April 05 2011 Tweet Email This

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For a bunch of smart people, the New York Times (NYSE:NYT) is stupid.

At the moment, the New York Times is wasting time in a school-yard shouting match with the Huffington Post (NYSE:AOL) and Arianna Huffington. What we have here is a classic resistance to change. Ironically, the New York Times is acting to conserve the business environment that has worked best for them — an inconsistent and self-serving exception to their otherwise progressive philosophy in their journalism department.

Hypocrisy aside, the New York Time’s real problem is their focus on the wrong company! The Huffington Post (NYSE:AOL) is NOT a primary competitor. Sure, HuffPo is taking some market share, but they are not a pure substitute for the erudite long-form journalism intellectuals love at the New York Times.

The Huffington Post is more like an evolved USA Today (NYSE:GCI): shorter form reporting, lots of clean visuals, and a much more mainstream audience. If the New York Times was smart, they would’ve bought Huffington Post a long time ago as a highly efficient way to expand into a related (news with a liberal/progressive bend) yet different market. But that’s water under the bridge now that AOL (NYSE:AOL) already took the piece of the board.

While the New York Times complains about how the world is changing, there is a real competitor focused on stealing their readers: The Daily Beast (NASDAQ:IACI). I’ve been reading the Daily Beast since inception and over the past quarter they have added a ton of original journalism. Not just any type of journalism — rather, higher-brow, investigative journalism commonly found at … drum roll … the New York Times.

The Daily Beast (NASDAQ:IACI) is now tied into Newsweek — a media outlet which is read by many New York Times readers. If Newsweek is used as a funnel to The Daily Beast, the Times is in some seriously deep shit. The Daily Beast has produced some excellent coverage of the crisis in the Middle East (very NYT-esque stuff). If Editor-in-Chief Tina Brown brings the same style coverage to the upcoming Presidential election, I bet it will serve as another major defeat for the New York Times.

Well, it might. The world is a dynamic place. If the New York Times (NYSE:NYT) can get over itself and stop hating change more than the people they look down on, they have every opportunity to perpetuate their legacy in the upcoming Golden Age of Media.

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Tags: AOL, Arianna Huffington, Business, Companies, Huffington Post, Industry, Media, NASDAQ:IACI, New York Times, Newsweek, NYSE:AOL, NYSE:GCI, NYSE:NYT, the daily beast, Tina Brown, usa today

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