Analyst: Times Co. may not sell Globe (Dinosaur Media DeathWatch™)

Boston Glob ^ | May 15, 2009 | Keith O'Brien

[abb]

After weeks of rumors that The New York Times Co. is trying to sell The Boston Globe, one financial analyst said she met this week with Times Co. executives and came away with a different impression. Despite the Globe's mounting financial losses, she wrote, the company appears committed to the Globe "long term."

"Management did not indicate the time frame needed to turn around the profitability of The Boston Globe and did highlight that this property has been hit much harder than some of its other properties due to its larger exposure to classified revenues," wrote Alexia Quadrani, an analyst at J.P. Morgan. "But it did make clear that it views the Globe and other New England assets as important to the company, so we don't expect an attempted divestiture anytime soon."

The research report, sent out to J.P. Morgan investors on Wednesday, comes six weeks after the Times Co. threatened to shut down New England's largest newspaper if its unions did not agree to $20 million in concessions. Some industry analysts have speculated that the cuts - which are now pending approval from the Globe's union members - were not only necessary to stem losses but were also a prelude to a sale.

Times Co. spokeswoman Catherine Mathis declined to comment yesterday. "It's our longstanding practice not to comment on rumors concerning potential acquisitions or divestitures," she said.

Lauren Rich Fine, director of research at ContentNext Media, cautioned that the Times Co., which bought the Globe for $1.1 billion in 1993, may still turn around and sell the paper - if the price is right.

snip

[abb]

To make a 'sale,' there must be a 'buyer.'

[abb]

ping

[Slapshot68]

“To make a ‘sale,’ there must be a ‘buyer.’”

Maybe some high school will buy them to beef up their school newspaper staff.

[andyandval]

When is the union vote scheduled at the Globe?

Do ya know, abb?

[abb]

http://www.broadcastingcable.com/article/232563-Lawyer_Sees_First_Amendment_Problem_In_Financial_Woes.php
Lawyer Sees First Amendment Problem In Financial Woes
Wrote FCC warning of what he says is a ‘First Amendment Perfect Storm’

[abb]

Don’t know the answer to that.

[bert]

.....Despite the Globe’s mounting financial losses, she wrote, the company appears committed to the Globe “long term.”......

This piece represents an embarrassment to the analyst community. Rather than write up such a report, the analyst should have said nothing. It assumes there is something to sell when there is not.

[N. Theknow]

To make a 'sale,' there must be a 'buyer.'

Oh, noble one. Thou hast wadeth amongst steaming mounds of Toro offal and hath devined the ultimate truth.

IOW - You nailed it Dude.

[abb]

http://www.nypost.com/seven/05152009/business/times_talks_all_guff__geffen_169344.htm
TIMES ‘TALKS’ ALL GUFF: GEFFEN

http://www.deadlinehollywooddaily.com/
Sony Pics Fiscal Year Profit Plunges 49%

[andyandval]

Just being lazy...here's what I found.

(Thought you'd be faster than google).

Daniel Totten, president of the Boston Newspaper Guild...said a vote on the proposal was likely in early June.

http://www.wtop.com/?nid=111&sid=1666016

[abb]

Daniel Totten, president of the Boston Newspaper Guild...said a vote on the proposal was likely in early June.

Can they last that long?

[CASchack]

I’m happy to see the Times hang onto the Globe. The Globe will continue to bleed revenue from the parent company.

[Aquinasfan]

“Non-profit” newspapers are next on the list, after the healthcare destruction plan.

[Zakeet]

Blockbuster 1Q Net Drops 42%; Shares Fall On Revenue Woes
Also: sales down 20 percent and cash burn of 96 million in same quarter.

Sony has $1 billion loss -- expects red ink to flow for another year
Also: will cut more than 16,000 jobs over next year

More MSM good news.

[hoosier hick]

Sell? I think they meant “give away.”

hh

[abb]

Guffaw!!

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/14/AR2009051403969.html
Dear Mr. Buffett: About Those Newspapers . . .

[abb]

http://www.buzzmachine.com/
Who would buy a newspaper? Anybody?

http://www.businessweek.com/1998/12/b3570103.htm
NEW-MEDIA MELTDOWN AT NEW CENTURY

http://worldcongress.inma.org/TheTickerDetailENG.cfm?artID=37072
Jarvis: we have to redefine what a newspaper is

[Melchior]

Every Pravda needs an Izvestiya.

[abb]

http://www.editorandpublisher.com/eandp/departments/business/article_display.jsp?vnu_content_id=1003973151
‘St. Cloud Times’ Outsourcing its Printing

http://www.businessinsider.com/inside-googles-talks-with-the-new-york-times-2009-5
Inside Google’s Plans To Save The New York Times

http://www.medialifemagazine.com/artman2/publish/Research_25/Broadcast_s_big_worry_Skidding_ratings.asp
Broadcast’s big worry: Skidding ratings
New forecast raises specter of a 10 percent falloff

[Aquinasfan]

Maybe some high school will buy them to beef up their school newspaper staff.

When I was the editor of my high school newspaper, I once published a press release from the Meade company, entitled, "Great New Notebooks on the Way This Fall." In full. Verbatim. Hey, I had some pages to fill!

OK, this story may not exactly belong here, but I wanted to share, because it still cracks me up. I learned a lot about newspapers and paper credentials...