The newspaper printing presses may have another decade of life in them, New York Times CEO Mark Thompson told CNBC on Monday.
“I believe at least 10 years is what we can see in the U.S. for our print products,” Thompson said on “Power Lunch.” He said he’d like to have the print edition “survive and thrive as long as it can,” but admitted it might face an expiration date.
“We’ll decide that simply on the economics,” he said. “There may come a point when the economics of [the print paper] no longer make sense for us.”
“The key thing for us is that we’re pivoting,” Thompson said. “Our plan is to go on serving our loyal print subscribers as long as we can. But meanwhile to build up the digital business, so that we have a successful growing company and a successful news operation long after print is gone.”
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Revenue from digital subscriptions increased more than 51 percent in the quarter compared with a year earlier. Overall subscription revenue increased 19.2 percent.
Link to the rest at CNBC and thanks to Delores for the tip.