Posted on 10/17/2007 4:37:47 PM PDT by NRG1973
CHICAGO (MarketWatch) -- Morgan Stanley Investment Management has sold its 7.2% stake in New York Times Co., according to a published report Wednesday.
The money management arm of Morgan Stanley Co. sold its nearly 10.4 million shares in the newspaper publisher, according to a report on The Wall Street Journal's online edition. See Wall Street Journal story (subscription required).
A
(Excerpt) Read more at marketwatch.com ...
Yep.......
The “greater Fool” theory at work? Sold to WHO!?
I also wonder if this will start a big selloff for NYT stock. No one wants to be the last to sell a falling stock so there could be a “race” to sell the stock before it drops too much.
If there was ever an appropriate post for a Dinosaur Media Watch alert, this was it. NYT is in big trouble, it seems to me.
Oh dear God I hope so!
But really, that is OK with me.
I LOVE reading it.
Over and over. Really! :-)
The pomposity of the liberals in charge is such that they will put this ship hard aground. IMHO & Hope it will be an “Icon”...it’s destruction that is. It will symbolize a break with the moral and societal depravity that the NY Times celebrates, the race bating, the bias, etc, etc. Its implosion, in time, will be an Iconic event of the beginning of the 21th Century.
Or, not
I'm not sure who would, but someone who supposedly is smart enough to avoid such dead cats but was nonetheless interested was the gayboy David Geffen. He was reportedly interested in buying the L.A. Times. For a while, I couldn't understand why a smart billionaire such as geffen would want damaged goods. But then I remembered from my reading of his unauthorized biography The Operator that he rose in part by damaging his enemies through negative rumors about them. A newspaper would give him an even greater weapon for smearing his enemies.
I'm guessing this would be one motiviation for someone to want a news outlet, no matter how doomed the venture will ulitmately be.
IMHO, if the NYT would report the news rather than editorializing the news and stop being the news, the paper might work out. But, that will never happen. So, never mind. The ole leopard thing!
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