If you're still reading the paper version of The New York Times, get ready to spend a little more. Cover prices will go up to $1.25 from $1 starting July 16th. Sunday prices will increase on July 15th, going from $3.50 to $4.00. The last increase for The Times in the New York area was in 1999. The increased prices are projected to add $7-8 million in revenue this year and $14-16 million in 2008. Home delivery prices will increase 3-4%. Time will tell whether the price increase will cause subscribers to cancel their subscriptions and read the paper online.
July 16th will be an expensive day for news, as the Wall Street Journal is also raising newsstand prices that day. The cost of weekday issues of The Journal will increase 50% to $1.50 per issue, matching the cost of its Saturday edition, which is already at $1.50.
In the outrageously expensive news department, NBC is paying $1 million for Paris Hilton's first interview as a free socialite. The interview will take place sometime next week after Hilton is released form jail. Hilton only agreed to be interviewed by the Today Show's Meredith Vieira, and not fellow Today Show host Matt Lauer. It turns out Lauer said some mean things about Paris. Aww, poor Paris.