August 5th, 2013
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#21
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Senior Member
Join Date: May 2009
Posts: 8,105
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Quote:
Originally Posted by Alex Linder
NYT sells Boston Globe to John Henry
Why Didn't the Boston Globe Sell to the Highest Bidder?
This weekend, The New York Times Co. sold the Boston Globe to John W. Henry, the owner of the Boston Red Sox. Henry paid $70 million. (Or negative $40 million, by more realistic calculations.) Oddly, several other bidders made higher bids than Henry. Why did the NYT Co. leave that money on the table?
http://gawker.com/why-didnt-the-bost...der-1032049882
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Quote:
Quote:
After purchasing the Boston Globe in 1993 for a then-record $1.1 billion, the financially troubled New York Times just announced it sold the 141 year-old paper to Boston Red Sox owner John Henry for a mere $70 million.
That's a straight 93% loss. Figuring in two decades of inflation would only make it worse -- as does the fact the Times retains the Globe's pension liabilities, estimated at over $100 million.
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http://www.breitbart.com/Big-Journal...3-percent-loss
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