Skip to comments.NYT Tries Again to Sell Off Struggling Boston Globe (Dinosaur Media DeathWatch™)
Posted on 02/21/2013 2:36:23 PM PST by abb
The New York Times Company, owners of the Boston Globe newspaper, is once again trying to find someone to take the struggling Massachusetts newspaper off its hands.
The Times previously tried to sell the Globe in 2009 but canceled the sale process after it received concessions from is unions (love the irony there).
More from Reuters:
The sale is expected to come at a big loss. Ken Doctor, an analyst with Outsell Research, estimated that the Globe could fetch about $150 million. The New York Times paid $1.1 billion for the newspaper in 1993.
The New York Times is putting all its effort into being a global information source and "the Globe is a distraction," Doctor said.
Morningstar analyst Joscelyn MacKay said in recent years revenue at the Boston Globe had declined much more than at the New York Times.
At the New England Media Group, which is the formal name of the unit up for sale, total revenue declined 0.8 percent to $394.7 million last year. That compares with the New York Times' revenue increase of 2.6 percent to $1.6 billion.
Now here would be a nice opportunity for a conservative billionaire to actually have a real asset instead of some junk mail and some worthless TV ads. Are you listening, guys?
Heh! Sounds like the NYT group has about the same grasp of economics as does the Obamadork/felon/illegal alien.
New rule (I assume everyone knows the old one): never buy stock in a company that buys ink by the barrel...
Propaganda costs, NYT, just not as well as it used to....
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Buy high, sell low. Carlos Slim loses dead weight of Globe?
Maybe I can get a job writing the headlines.....
I wouldn’t give them $20
if a conservative buys it the unions/boycotts will shut it down
Breitbart should put in a bid for it. That would certainly be a lot of fun.
Boston Snow Globe.
In 1993 the NY Times paid 1.1 billion for the Boston globe. How much will a buyer pay for it now? 100 million tops I believe >>>>>>>
In 1993, The New York Times Company purchased Affiliated Publications for US$1.1 billion, making The Boston Globe a wholly owned subsidiary of The New York Times’ parent. The Jordan and Taylor families received substantial New York Times Company stock, but the last Taylor family members left management in 20002001.
$150 million??? LOL!! Right!
Let’s see what loose change I have in my pocket...
They should take a big loss their liberal BS drove it into the ground.
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