and the RATS, take another one in the.........HA ha!!!
Posted on 06/29/2013 6:00:31 AM PDT by SeekAndFind
New York Times Co., which is accepting bids for the Boston Globe Thursday, is likely to fetch a price that’s about a 10th of what it paid in 1993, a sign of the industry’s deterioration over the past two decades.
The bids are set to be in the range of $100 million, according to three people who asked not to be identified because the matter is private. The potential buyers include Rick Daniels, a former president of the Globe, and former Time Inc. CEO Jack Griffin, in partnership with cousins Steven and Ben Taylor, whose family once owned the newspaper, the people said.
Times Co. put the Boston Globe up for sale in February and hired Evercore Partners Inc. to manage the process, part of an effort to focus on its flagship New York Times media brand. The deal will include the Worcester Telegram & Gazette and a growing printing business.
The New York-based company, which bought the Globe for $1.1 billion 20 years ago, mostly in stock, is coping with an industrywide decline in advertising that has caused a drop in sales and stock prices. Its market capitalization has fallen 19 percent since the Globe acquisition, to about $1.6 billion, after reaching more than $8 billion in 1999.
(Excerpt) Read more at moneynews.com ...
Hey, I hear the Koch Brothers are looking for papers to own... they could even turn the Globe into a more conservative paper.
90% of what?
RE: 90% of what?
90% of the original price they paid when they acquired the Globe.
They paid $1.1 Billion to own the Boston Globe. They consider themselves lucky today if they can sell it for 1/10th of that price.
"No, no! You financial geniuses!"
"Your're supposed to BUY LOW and SELL HIGH, not the other way around!"
Anything that moves the New York Times closer to insolvency is great news to me!!!
But after the collapse what will they call that area around 42nd & Broadway? Mecca Square? Beijing Square? Obama Square?
Who would have guessed that trying to convince people to pay to read glaringly obvious propaganda would be a losing business proposition?
RE: 90% of what?
90% of the original price they paid when they acquired the Globe.
They paid $1.1 Billion to own the Boston Globe. They consider themselves lucky today if they can sell it for 1/10th of that price.
Factor in inflation and what they are hoping to get today for $100 million would have been worth $62,031,810.08 in 1993 when they acquired it.
nytimes...Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha! FAIL.
Lies, dude...lies..
Just keep telling Americans what hateful, out of touch, wild-eyed bigots they are, and I’m sure people will eventually resume buying your newspapers.
I’ll buy that for a dollar!
Then too, think of all those folks that’ll be laid off and blame Bush, or the Amish or someone.
I don't get it either - I love reading press releases from the Democrats...
Time’s Up Square
I was being facetious... I forgot the facetious tag. /f
Oh I am so hoping the Koch brothers buy it up. It would be a strike at the spleen of the beast. (NYT being the liver, the beast having no heart.)
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