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NYT not selling Boston Globe

Discussion in 'Journalism topics only' started by Inky_Wretch, Oct 14, 2009.

  1. Inky_Wretch

    Inky_Wretch Well-Known Member

    All those cutbacks did the trick?

    http://www.poynter.org/column.asp?id=45&aid=171749
     
    Inky_Wretch, Oct 14, 2009
    #1
  2. Michael_ Gee

    Michael_ Gee Well-Known Member

    The best offers NYT Co. got for the Globe were in the $35 million and we assume the $60 million in debt range. That's for a property for which they paid $1.1 BILLION back in the early '90s.
    The Globe is like all those mortgage-backed securities the banks hold but won't sell. Can't afford to put the loss on the books.
     
    Michael_ Gee, Oct 14, 2009
    #2
  3. KP

    KP Active Member

    http://www.boston.com/business/ticker/2009/10/nyt_terminates.html

    http://bostonherald.com/business/media/view/20091014ny_times_memo_globe_not_for_sale/

    The actual memo itself.
    http://www.boston.com/business/ticker/2009/10/nyt_co_note_to.html
     
    KP, Oct 14, 2009
    #3
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