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    Richard Pérez-Peña
    International Herald Tribune
    December 8, 2008

    The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.

    • A d v e r t i s e m e n t

    The company has retained Cushman & Wakefield, the real estate firm, to act as its agent to secure financing, either in the form of a mortgage or a sale-leaseback arrangement, said James Follo, the Times Company’s chief financial officer.

    The Times Company owns 58 percent of the 52-story, 1.5 million-square-foot tower on Eighth Avenue, which was designed by the architect Renzo Piano, and completed last year. The developer Forest City Ratner owns the rest of the building. The Times Company’s portion of the building is not currently mortgaged, and some investors have complained that the company has too much of its capital tied up in that real estate.

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    Comment Rules

    17 Responses to “New York Times to Borrow $225 Million Against Its Mid-Manhattan Headquarters Building”

    1. jack elle Says:
      December 8th, 2008 at 12:25 pm

      Only 225 million, cmon the property alone is worth zillions, and not to mention all of the folks that get off each day purving its corridors of black ink, think about them and have some compassion

    2. me2 Says:
      December 8th, 2008 at 1:02 pm

      Looks like the NYT knows its game is up, and is taking up what money it can and is about to run…
      Good riddance!

    3. Rick78X Says:
      December 8th, 2008 at 1:52 pm

      All the news ‘not’ fit to print. The sooner your gone the better we’ll be without your lies, half truths and NWO propaganda.

    4. yellowhak1 Says:
      December 8th, 2008 at 2:27 pm

      just read on msn: media conglomerate tribune co. files for bankruptcy protection.

    5. rw3 Says:
      December 8th, 2008 at 2:33 pm

      I’m sure the CIA will pass the hat and fund “the Slimes” with taxpayer money. Graham was a CIA lackey and the Slimes is often used to destroy anyone or anything that treatens the establishment’s grip on our reality.

    6. TakerOfCorporateSouls Says:
      December 8th, 2008 at 3:22 pm

      A paper that pushes paper that just received a little more paper, THAT PRODUCES NOTHING WORTH WHILE…………….just think about it, all the paper pushers trying to stay afloat to push more paper……….the future of mankind depends on all of them………aaaaaaahhhhhhhhhhhh

    7. Sid Says:
      December 8th, 2008 at 3:44 pm

      could save a few trees, this would be good for the enviroment, no? haha

    8. bunny Says:
      December 8th, 2008 at 4:02 pm

      When will you have a black representive of the black community on your show ?

      Do you have any black friends ? Too reach people with your message you have to be diverse

      ok

    9. TakerOfCorporateSouls Says:
      December 8th, 2008 at 4:14 pm

      get some more paper for those paper pushers that push nothing but disinfo paper because the paper has to keep rolling out of this place that supposedly makes important paper to push onto the masses to keep them believing whatever is printed on this worthless paper that nobody buys anymore……………..

    10. Bisquit Says:
      December 8th, 2008 at 4:26 pm

      LOL. Bye Dooshbag NYT, thanks for the left wing nut politicians and continued control of elitism. RIH

    11. Tom Says:
      December 8th, 2008 at 4:28 pm

      put the tribune on the getting milk money too heard it today too.

    12. Eljay Says:
      December 8th, 2008 at 4:40 pm

      What….we’re bailing out the propaganda industry now?
      Hey congress….how about bailing out the people??????
      We should vote your f---in’ asses out of office once and for all!

    13. huck Says:
      December 8th, 2008 at 4:42 pm

      Well, the Old Grey Lady done stepped in a big pile of it,
      didn’t she?

      Now that they’ve sold their soul to the bankers it’s only
      a matter of time until they’re belly-up.

      They won’t even have assets in real estate to show for
      them ever being a newspaper.

      You can bet some super smooth crooks are set to rake
      in a load of cash on that deal. Frankly we’re surprised
      they didn’t insure the damned place for 2 billion and
      then hire some black ops to remote-fly planes into it.

    14. truthfox Says:
      December 8th, 2008 at 6:05 pm

      this is not a bailout!!!…idiots…

    15. X-lax Says:
      December 8th, 2008 at 7:54 pm

      The only way I would pick up a New York Times is if I were desparate for toilet paper!

    16. Son of The Republic Says:
      December 8th, 2008 at 9:02 pm

      Ha Ha eat it main street media.

    17. Roy Johnson Says:
      December 8th, 2008 at 11:09 pm

      I think its time to start bailing out the WWE. They are losing money too.