Posted on 10/14/2009 7:50:51 PM PDT by james500
After months of hunting for a buyer, The New York Times Company said on Wednesday that it had decided not to sell The Boston Globe, the newspaper it threatened last spring to close because of mounting losses.
The Globe did not draw high bids, and the company chairman, Arthur Sulzberger Jr., said last month that the paper’s finances had improved enough that the company no longer believed it had to sell if the offers were not attractive enough.
Executives said this year that the paper was on track to lose $85 million in 2009, before making painful cost cuts that included wage, benefit and job security concessions from union employees. But even after those expense reductions, analysts say, The Globe probably does not operate in the black.
(Excerpt) Read more at nytimes.com ...
I guess they could not get any real buyers for the Globe so they have decided to just keep it.
Good. Keep that open artery flowing...
Throwing good money after bad 101.
Either that, or they know the fix is in. Bailout coming in second stimulus package. You help me out, I’ll help you out.
I wonder where Mr. Skinny is in all this?
After months of hunting for a buyer, The New York Times Company said on Wednesday that it had decided not to sell The Boston Globe
No serious bids were made, thats my interpretation. Gotta read the Soviet papers between the lines.
They also abandoned any pretense of non-partisan coverage and have gone full-hog leftist. "We are all socialists now".
Thats some sales strategy.
Why on earth would anybody make one?
There is no reason whatsoever to bid on it.
Maybe Rush should throw out an offer. lol.
Which dies first the Globe or the Herald?
I'd bet on The Globe. Two reasons:
1. The Herald learned long ago how to scrimp and save, getting by on porridge. The Globe doesn't have that kind of background.
2. The Times is in big trouble, too. They'll scuttle The Globe before it pulls the mother ship under.
bump
Both ‘liberal’ papers should go down the drain.
Translation: "We can't afford to pay someone to take it off our hands."
"...analysts say, The Globe probably does not operate in the black.."
Translation: "We're losing money with only one hand instead of both."
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