Credit: New York Times
© 2024 Blaze Media LLC. All rights reserved.
Washington Post: Sold.
The New York Times, too?
Naturally, the Post is the one to raise that question:
The Times has been battered by the same economic forces that drove the Graham family and The Washington Post Co. board to accept [Amazon.com founder Jeff] Bezos’s $250 million offer. Indeed, it may be even more financially vulnerable than The Post.Whereas The Post has been owned by a diversified media and education company that could absorb some of the newspaper’s continuing operating losses, the New York Times Co. has been shedding assets that might have cushioned its flagship newspaper. It sold its nine TV stations in 2007, its regional newspaper chain in 2011 and its once-high-flying Web operation, About.com, last summer. Last week, it sold the Boston Globe — the newspaper it had bought for $1.1 billion in 1993 — to John W. Henry, a hedge-fund billionaire who owns the Boston Red Sox, for $70 million.
As a result, the Times Co. owns just two major assets — its famous newspaper and the International Herald Tribune, a global paper that will be rebranded in October as the International New York Times.
Arthur Sulzberger Jr., chairman of Times Co., has maintained that the publication “is Not. For. Sale.”
As an aside, MSN has a writeup on why New York Mayor Michael Bloomberg (I), whose name is often floated a potential Times buyer, wouldn't actually pursue a deal there.
Want to leave a tip?
We answer to you. Help keep our content free of advertisers and big tech censorship by leaving a tip today.
Want to join the conversation?
Already a subscriber?
more stories
Sign up for the Blaze newsletter
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.
© 2024 Blaze Media LLC. All rights reserved.
Get the stories that matter most delivered directly to your inbox.
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.