"Projected capital expenditures for 2011 range from $45 million to $55
million, according to the 2010 annual report, 'as we invest in, among other things, digital initiatives across our company.'"
Earlier this week, NYT publisher Arthur Sulzberger called reports that the company spent about $40 million on the pay wall "vastly wrong." Without offering more specifics, Sulzberger insisted during an interview: "I'm happy to tell you it's vastly wrong, it was much less." People familiar with print and online publishing infrastructure tell paidContent the amount spent would have been higher had it not developed the platform in-house.