After two years of charging us $7.95 per month to read about Maureen Dowd's personal life, the New York Times has finally seen the error of its ways and agreed to cancel the odious TimesSelect service. And despite pulling the plug, the always obstinate NYT still refuses to acknowledge that the short-lived TimesSelect experiment was a profit-draining, money hemorrhaging failure.

The Times said the project had met expectations, drawing 227,000 paying subscribers — out of 787,000 over all — and generating about $10 million a year in revenue.

“But our projections for growth on that paid subscriber base were low, compared to the growth of online advertising,” said Vivian L. Schiller, senior vice president and general manager of the site, NYTimes.com.

Which is to say that they didn't actually lose money so much as they made exponentially less than they would have made in online ad sales had they not made a HUGE FUCKING MISCALCULATION and started charging for their content.