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A color display ad on the front page of The New York Times today had the blogosphere buzzing. A Google blog search conducted mid-morning found many comments already posted.

A Gawker posting asked why the Times took so long to sell front-page advertising given the decline in newspaper ad revenues. A posting by Peter Kafta on the Web site, All Things Digital, concluded that it was no surprise since the Times was trying to mortgage its midtown headquarters and shed its assets in the Boston Red Sox.

The ad, which promotes the CBS television network, runs as a strip across the bottom of the page. Now, only The Washington Post, of all the major U.S. newspapers, does not run ads on the front page, an area once considered sacrosanct for news only.

In a story in the Times’ business section today, newspaper executives declined to say how much CBS paid for the front-page ad. The article did note that the New York Times Co. said its November revenues fell 13.9 percent from November 2007.

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