[FLASHBACK] New York Times Company Sells Boston Globe:
http://www.nytimes.com/2013/08/04/business/media/new-york-times-company-sells-boston-globe.html
“AUG. 3, 2013
“The New York Times Company, in its latest move to shed assets and focus more on its core brand, has agreed to sell The Boston Globe and its other New England media properties to John W. Henry, principal owner of the Boston Red Sox.
“The sale, for $70 million, would return the paper to local ownership after two decades in which it struggled to stem the decline in circulation and revenue. The price would represent a staggering drop in value for The Globe, which The Times bought in 1993 for $1.1 billion, among the highest prices paid for an American newspaper.
“At the time, The Globe was one of the nation’s most prestigious papers in a far more robust newspaper environment. But like other newspapers, it began to lose readers and advertisers to the Internet, and revenue plummeted. The Times Company has taken several write-downs related to the New England Media Group, and in February it said it was putting The Globe and other assets in the group up for sale.”
John Henry gave his new little chickie wife a big job at The Globe——and the downhill slide rapidly accelerated.
It is trash.
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