Times Puts Globe On the Block

Accuracy In Media ^ | JUNE 11, 2009 | Don Irvine

[AIM Freeper]

The New York Times Co. has hired Goldman Sachs to find a buyer for the money losing Boston Globe.

From Boston.com

The New York Times Co. has hired an investment bank to manage the possible sale of The Boston Globe, and the company plans to request bids for Boston's major daily in the next couple of weeks, according to two people who say they may make offers on the newspaper.

The Times Co., which has declined to comment in recent months on whether it is selling the Globe, has hired Goldman Sachs, the same Wall Street investment bank the Times Co. has hired to sell its 17.5 percent stake in the Boston Red Sox, the potential bidders say.

[Paladin2]

Sell it to the employees. Who would be better to get a lesson in economics and product design for the market.

[libstripper]

The times could really stick it to the Globe's with an assset sale. That way the buyer wouldn't have any contrct obligations and could hire a whole new staff.

[Buckeye McFrog]

will Rupert Murdoch or the Rev. Moon make an offer? The outcry will be so much fun to watch!