Saturday, June 29, 2013

Amusing: NY Times set to lose about a billion dollars on sale of Boston Globe...

Today's feel good story...

Via Newsmax:
New York Times Co., which is accepting bids for the Boston Globe Thursday, is likely to fetch a price that’s about a 10th of what it paid in 1993, a sign of the industry’s deterioration over the past two decades.

The bids are set to be in the range of $100 million, according to three people who asked not to be identified because the matter is private. The potential buyers include Rick Daniels, a former president of the Globe, and former Time Inc. CEO Jack Griffin, in partnership with cousins Steven and Ben Taylor, whose family once owned the newspaper, the people said.

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