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Boston Globe at a crossroads

Discussion in 'Journalism topics only' started by Walter_Sobchak, May 3, 2009.

  1. Football_Bat

    Football_Bat Well-Known Member

    If they file it today, the first day without a Globe would be July 4. How ironic.
     
  2. JackReacher

    JackReacher Well-Known Member

    Yeah. No chance the NYT doesn't get SOMETHING out of this....either a deal with the Guild or by selling it.

    The question is....who would be willing to buy it should it come to that?
     
  3. JayFarrar

    JayFarrar Well-Known Member

    So if anything they do is just temporary, why not just shut it down?
    If Buffett is telling people newspapers are looking at the possibility of "unending losses." Who then would drop the hundreds of millions it would take to buy the Globe? The Times paid roughly $1.1 billion for the Globe, so even if the Times sold the paper for a third of the original purchase price, the loss would still be close to a 700 million dollars. This from a company that just borrowed $250 million from a Mexican billionaire.
    The NY Times company is over a billion dollars in debt, selling the Globe would make up some of that, but, to me, the real question is if they shut the Golbe down, would then the company be able to write off more than what they would get if the paper was sold?
    The reality is, for most places, the real estate where the paper sits is more valuable than the paper itself.
     
  4. SockPuppet

    SockPuppet Active Member

    If the Boston Globe shuts down, should we be surprised? Nothing surprises me anymore.
     
  5. RickStain

    RickStain Well-Known Member

    It's about unwinding the losses in the cheapest way possible. There's still revenue coming in and contracts to be fulfilled.

    But we'll get there.
     
  6. JackReacher

    JackReacher Well-Known Member

    With all this debt the NYTCO has....is there any chance the NYT goes under?
     
  7. Joe Williams

    Joe Williams Well-Known Member

    Isn't this when Rupert Murdoch steps in?
     
    Last edited by a moderator: Jan 1, 2015
  8. RickStain

    RickStain Well-Known Member

    Not soon. They have enough assets to sacrifice to keep going for awhile.
     
    Last edited by a moderator: Jan 1, 2015
  9. 21

    21 Well-Known Member

    And sadly, everything about all of this is continually surprising to me. I can't get my mind to accept the reality. Every time another horrible story surfaces, I think, 'Oh, that's not happening, no way.' And then....
     
  10. Joe Williams

    Joe Williams Well-Known Member

    If what we've just seen with the Rocky Mountain News and the Seattle P-I, along with the gloom and doom out of Warren Buffet's mouth and Sam Zell's absolute raping and pillaging of Tribune Co., doesn't have our eyes permanently open -- teary but wide-open -- then there's no waking us from this deadening slumber.
     
  11. suburbia

    suburbia Active Member

    Even if they shutter it, can they make some money off the subsequent tax write-off?

    I get the feeling that these "negotiations" are little more than rearranging deck chairs on the Titanic.
     
    Last edited by a moderator: Jan 1, 2015
  12. JayFarrar

    JayFarrar Well-Known Member

    I also wonder, if the Times shuts the Globe down, could they come back the next day as the Boston Globe edition of the Times?
    Shutting it down could void all the contracts. Cut the 600 or so editorial employees to about 50 reporters and editors. Put out a 16 or how ever many pages section every day that would wrap around the Times. Subscribers would still get a paper, you could still run the ads under contract and maintain, at least for a time, a Boston presence.
    Is the Globe the print site for the Times in New England?
    If so, you keep that going, and then you use the Globe's circulation staff to deliver the Times and the Globe's section.
     
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