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Gerald Marzorati, an assistant managing editor at the Times, told a conference in New York that the paper had maintained a large subscription base thanks in part to people not checking their credit card statements.
"I think a lot of it has to do with the fact that they're literally not understanding what they're paying," Marzorati said Wednesday, according to Forbes. "That's the beauty of the credit card."
Today, Marzorati told AOL News the comment was nothing more than a "wisecrack" dropped as he was talking up the Times' business model.
"The stuff I said about credit cards was a wisecrack -- which I would love to have never uttered -- obvious to everyone in the audience but one blogger," Marzorati said in e-mailed comments.
It didn't seem so obvious to Shawn Gold, the panel's moderator, at the time.
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"This is the last panel your company will let you on," Gold told Marzorati. The Times' circulation slipped 8.5 percent to 950,000 in the year to March 31 as more and more readers look for their news online. Still, the decline was less than that felt by other papers' weekday editions -- the Los Angeles Times saw a decline of 14.7 percent, while the Chicago Tribune fell 9.8 percent.
Marzorati told AOL News that the size of the paper's print subscriber base shows the quality of the The New York Times.
"We have north of 800,000 loyal subscribers willing to pay hundreds of dollars a year for our print product," Marzorati told AOL News. "This bodes well for the future."
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