Posted on 06/13/2009 9:00:13 PM PDT by lakeprincess
Baby Globe lashes back at Big Mama New York Times.
(Excerpt) Read more at washingtontimes.com ...
LEFT wings.
There was an offer a short while back for $600 million or so but they turned up their nose at it. They wish they had taken it...
Buyer probably said they would buy it if there was financing made available from TARP!!! Bet on it!!!
Who would be dumb enough to buy this outfit?
Hopefully it's the Boston Herald.
I don’t know if they’d be dumb enough to buy it but I have figured it could be the Boston Herald-Globe...
From 2006:
http://www.thedeal.com/dealscape/2006/11/gray_lady_wants_to_stay_in_bos.php
News on Nov. 22 that advertising revenue for newspapers dropped 1.5% in the third quarter didn’t faze the New York Times’ decision to ___reject an offer for the Boston Globe from a group of Boston investors spearheaded by former General Electric CEO Jack Welch___. The Boston Globe reports that according to a Nov. 17 letter, New York Times chief executive Janet Robinson said her company was not interested in selling the newspaper. Could it have been the price of between ___$550 million to $600 million that Welch might have been rumored to offer for the Globe that turned off the Times___? After all, the Times had paid $1.1 billion for the Globe in 1993. Welch’s valuation was based on an analysis done by J.P. Morgan Chase & Co. for his investor group that includes Boston advertising executive Jack Connors and Boston concessionaire Joe O’Donnell. Despite the rejection, the trio will continue their pursuit of the Gray Lady. If the Times continues to see disappointing earnings results and major shareholders such as Morgan Stanley Investment Management, which owns 7.6% of the company, make louder overtures for change, don’t be surprised if the Gray Lady at least goes to the negotiating table to see if it can get close to its asking price. At this rate, however, with circulation falling 7% and falling ad revenue at the Globe, maybe $550 million to $600 million isn’t a bad price after all ...
“have claimed the quality of journalism at the Globe has suffered during the turmoil.”
That is not really possible.
The trio consists of Stephen Pagliuca, a private-equity executive and Celtics co-owner; Jack Connors, co-founder of a major ad agency; and Stephen Taylor, a former Globe executive and member of the family that originally sold the Globe to the Times for more than $1 billion in 1993
I gotta wonder about just how many will miss that zing?
Zoooooom!
Their product...a full throttle expose' ripping the Kennedys, Kerry, Barnie Frank and all the other mafia politicians they have.
I know, old news.
Just sayin'...
More likely it's al Qaeda.
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