The New York Times will increase spending specifically on coverage of the incoming Donald TrumpDonald TrumpSanders calls out Manchin, Sinema ahead of filibuster showdown Laura Ingraham 'not saying' if she'd support Trump in 2024 The Hill's 12:30 Report: Djokovic may not compete in French Open over vaccine requirement MORE administration but plans to cut its overall budget this year, the newspaper's top editors revealed in a public memo Tuesday.
The budget cuts, according to executive editor Dean Baquet and managing editor Joe Kahn, will be targeted more on production and editing systems instead of journalism resources.
The company also said it plans on earmarking an additional $5 million to produce more coverage of the incoming Trump administration.
"Has there ever been a story more tailor-made for The New York Times?" the memo reads. "Or a moment when our mission was more crystal clear?"
Trump has attacked the Times on multiple occasions, calling it a "failing" institution that covered him “with a nasty tone." But has also praised the paper of record after meeting with the paper's staff in late November, referring to it as “a great, great American jewel."