New York Times Co. Said to Put Boston Globe Up for Sale

[DonViejo]

Source: Bloomberg

New York Times Co. Said to Put Boston Globe Up for Sale
By Edmund Lee & Jeffrey McCracken - Feb 20, 2013 4:19 PM AT

New York Times Co. is formally exploring a sale of the Boston Globe, its only remaining business outside the core New York Times media brand, two people familiar with the matter said.
The publisher is working with Evercore Partners Inc. as an adviser for a possible sale, said the people, who asked not to be named because they weren’t authorized to speak publicly.

Times Co., controlled by the Ochs-Sulzberger family, is coping with a difficult advertising market as spending on national campaigns continues to shrink industrywide. The publisher has sold other assets unrelated to the Times brand, getting rid of regional newspapers and About.com within the past 13 months.

The company held $955 million in cash and short-term investments at the end of last year, largely as a result of its asset sales. In addition to the Boston Globe, the company still owns the International Herald Tribune, considered the European edition of the New York Times.

Read more: http://www.bloomberg.com/news/2013-02-20/new-york-times-co-said-to-put-boston-globe-up-for-sale.html?alcmpid=breakingnews

[Warren Stupidity]

1. That sucks.

[Chico Man]

2. hopefully it returns to it's pre-Times style

I really was annoyed by how it starting looking just like the NY Times.

[Light House]

3. Hopefully Rupert Murdoch

doesn't buy it and turn it into a right wing rag.

[Chico Man]

4. Seriously

We already have the Herald.

[graham4anything]

5. Mike Bloomberg should buy both the NY Times and the Boston Globe

In NYC, it has been rumored for a long time that Mike will do just that after he leaves office.
And he comes from Boston, so what better to also buy.

Have a good forum to use in his after mayor life to get rid of guns in America.

and to keep an actual newspaper vibrant for many decades to come.