At least the company isn’t coming close to using all its free cashflow to fund the dividend. But get a couple of years of revenue growth before you go handing capital back to shareholders, would ya?

Further reading:

The New York Times Company in 2015. Trendlines—as of right now—don’t point to its demise.

The Washington Post Co.’s Self-Destructive Course. Dividends, share buybacks, and an anti-paywall stance help bleed the paper dry.

What’s Good For the Bancrofts Is Bad for the Journal. The WSJ’s parent paid outsized cash dividends, to the primary benefit of the Bancrofts, instead of reinvesting.

The Slack Wire: Disgorge the Cash! JW Mason on how shareholder capitalism feeds on itself.


Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at