Posted on 03/09/2009 6:44:31 AM PDT by GQuagmire
NEW YORK — The New York Times [NYT] Co. has sold 21 floors of its headquarters building near New York’s Times Square.
The sale to investment firm W.P. Carey & Co. is for $225 million.
The newspaper had said in January that it was in talks with Carey for such a deal. Like other publishers, it has been seeking different ways for raising cash to pay off debt as sales of advertising decline. It suspended its dividend in February.
(Excerpt) Read more at bostonherald.com ...
to store pesos?
“...it has been seeking different ways for raising cash to pay off debt as sales of advertising decline.”
Hey! Here’s an idea! How about covering the NEWS and not just carrying water for the LeftTards? How about some real investigative reporting to see if 0bama really IS eligible to hold office?
That just might sell some newspapers and generate some advertising revenue!
Forgive my naivety, but; why don't they try selling some newspapers?
Did you know that their Sunday edition sells for more than their stock does?
I guess the big money isn't in national secrets anymore.
You can’t stay alive for long by eating yourself.
This is the same building that the New York Times used a state agency to exercise eminent domain to crush a number of small businesses to make room to build. Those businesses would probably have been a better investment than the Times.
They’ll be taking in boarders soon.......................
The Times isn’t going any where. It has brought the cause this far along, it’s needed for another two or three or four years. Party money will float it. Indefinitely.
That’s where we are as a country.
This isn’t happening fast enough.
Last one out, take the Flag (Yellow Hammer and Sickle on a Red field of course).
And from The Yahoo AP
New York Times sells, leases back part of building
*********************EXCERPT***********************
Now the Times is trying to sell its 17.8 percent stake in the group that owns the Boston Red Sox. Barclays Capital analyst Hale Holden has estimated that could fetch $140 million to $160 million.
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