Read the following passage and mark the letter A, B, C or D on your answer sheet to indicate the correct answer to each of the questions from 55 to 64.The New York Times is a daily newspaper published in New York City. For a long time, it has been a newspaper of record in the United State and one of the world’s great newspapers. Its strength is in its editorial excellence; it has never been the largest newspaper in terms of circulation.The Times was established in 1851 as a penny paper whose ...

Read the following passage and mark the letter A, B, C or D on your answer sheet to indicate the correct answer to each of the questions from 55 to 64.

The New York Times is a daily newspaper published in New York City. For a long time, it has been a newspaper of record in the United State and one of the world’s great newspapers. Its strength is in its editorial excellence; it has never been the largest newspaper in terms of circulation.

The Times was established in 1851 as a penny paper whose editors wanted to report the news in a restrained and objective fashion. It enjoyed early success as its editors set a pattern for the future by appealing to a cultured, intellectual readership instead of a mass audience. However, in the late nineteenth century, it came into competition with more popular, colorful, if not lurid, newspapers in New York City. Their publishers ran sensational stories, not because they were true, but because they sold newspapers. Despite price increases, the time was losing £1,000 a week when Adolph Simon Ochs bought it in 1896.

Ochs built the Times into an internationally respected daily. He hired Carr Van Anda as editor. Van Anda placed greater stress than ever on full reporting of the news of the day, and his reporters maintained and emphasized existing good coverage of international news. The management of the paper decided to eliminate fiction from the paper, added a Sunday magazine section, and reduced the paper’s price back to a penny. In April 1912, the paper took many risks to report every aspect of the sinking of the Titanic. This greatly enhanced its prestige, and in its coverage of two world wars, the Times continued to enhance its reputation for excellence in world news.

In 1971, the Times was given a copy of the so-called “Pentagon Papers,” a secret government study of U.S. involvement in the Vietnam war. When it published the report, it became involved in several lawsuits. The U.S. Supreme Court found that the publication was protected by the freedom-of-the-press clause in the First Amendment of the U.S Constitution. Later in the 1970s, the paper, under Adolph Ochs’s grandson, Arthur Ochs Sulzberger, introduced sweeping changes in the organization of the newspaper and its staff and brought out a national edition transmitted by satellite to regional printing plants

According to the passage, what caused the loss of money at the Times?