'New York Times' to cut paper size in 2008; CFO to retire

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New York—Following the lead of other major newspaper publishers, The New York Times Co. said yesterday that it is planning to reduce the size of its flagship New York Times, making the daily narrower by one and a half inches. In addition, the Times said it is closing its printing operation in Edison, N.J.

The changes, to go into effect in April 2008, will be accompanied by a phased-in redesign of the paper and will mean the loss of 250 production-related jobs, the company said. The reduction in the size of the Times will mean a loss of 5% of the space the paper devotes to news.

The Washington Post and The Los Angeles Times have reduced their size to cut newsprint and other production costs as advertisers migrate to the Web. The Wall Street Journal will narrow in size starting in January 2007.

The Times also said that that CFO Leonard Forman plans to retire in 2007 after the company names a successor.

—Matthew Schwartz

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